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XRP Price Analysis: Ripple’s Bullish Move After the Drop of 15%

  •  The cryptocurrency market comes out of bearish momentum, the beams of green light coming through the dark red clouds indicating the rise of bull.

  • Among the top three currencies Bitcoin, Ethereum and Ripple, XRP is leaving the two currencies behind in the increasing value and its value is increased by 4.49%.

  • The MACD is in moving toward the bullish region and the RSI of the currency is increase too is at 40 levels.

 

Today the cryptocurrency is experiencing the bullish movement in the value of the cryptocurrency. All top ten cryptocurrencies in the market are trading in the green signal and it is refreshing to see after the weeks of bearish values. Among the top three currencies Bitcoin, Ethereum and Ripple, XRP is leaving the two currencies behind in the increasing value and its value is increased by 4.49%. The Bitcoin and Ethereum experiencing the gain of 0.49% and 1.24% respectively.

Current Status of Ripple: The currency is currently trading at a value of $0.248911 and its value is increasing by 4.49%. The market capitalization of the currency is $10,723,093,918 and the 24-hour volume of the currency is $1,433,341,084. The circulating supply of the currency is $43,080,011,224 XRP and the ROI of the currency is 4,137.62%.

Price Analysis and Prediction: The value of the reviving again after the drop of the 15% in its value and also the value is near around its immediate resistance of $0.2650, which was its previous support. Earlier the currency wasn’t able to stay at the price and dropped with a sharp decrease. It also broke the other support levels of $0.2550, $0.2500, $0.2400 and even the value of $0.2200. Also, there was a close near beneath the value of $0.2500 and SMA of 100-day.

However, the price was trading near to the value of $0.2050 and created a new low value this month i.e. $0.2064. The currency was corrected upside overhead the $0.2100 and $0.2200 value. Also, currency break overhead the fib retracement of 23.6% level of the current drop from the high value of $0.2729 to the low value of $0.2064.

Earlier when the currency was trading around the value of $0.2400. The fib retracement level of 50% and of the value dropped from the high value of $0.2729 to the low of $0.2064 close to the value of $0.2400. The value of the $0.2459 acted as the immediate resistance and now the currency is trading at the value of $0.2489. The value could further move up to $0.2550 and further, it could achieve the value of $0.2650.

On the other hand, if the currency’s value again come under the bears then the value could reach up to the immediate support of $0.2350. Also, it could go further down up to $0.2200, if it fails even to stay at this price then it could further reach the value of $0.2000. However, the chart of the ripple is showing rebounding overhead the value of $0.2350. The price has already crossed one resistance level of $0.2450 and now everyone is eyeing for the next resistance level of $0.2500.

The MACD is in moving toward the bullish region and the RSI of the currency is increase too is at 40 levels. The main supports levels are $0.2450, $0.2350, $0.2200, and $0.2120 and the main resistance levels are $0.2500, $0.2550 and $0.2650.

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About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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