Ripple Price Analysis: Will XRP Recover or Crash?

Technical Indicators

Support Level – $0.2850

Resistance Level – $0.2920

  • Ripple price started to recover, however, it was unable the resistance around $0.2900 and $0.2920.
  • Yesterday’s key bearish pattern line is still placed with resistance around $0.2890 on the hourly chart.
  • XRP must break the $0.2900 and $0.2920 resistance levels to begin a recovery.

Ripple price is in a bearish trend against the US Dollar as well as Bitcoin. XRP might keep moving downwards and even break the support around $0.2850.

Ripple Price Analysis

After falling to $0.2850, Ripple price began to recover. XRP was able to move above the $0.2860 and $0.2880 resistance levels. However, the resistance around $0.2910 and $0.2920 proved quite strong and XRP was not able to move above this range. Ripple price gradually started falling lower and settled beneath $0.2900 plus the 100 hourly SMA.

XRPUSD Price Chart

There are a good number of sellers placed around the $0.2900 and $0.2920 levels. Yesterday’s bearish pattern line is still placed with resistance around $0.2890 on the hourly chart. XRP is probably going to face a huge selling pressure around $0.2900 and $0.2920 resistance levels. The first support for XRP lies around $0.2850, underneath which there is a danger of the price dropping to $0.2800.

Taking a look at the chart, Ripple price is set in a bearish zone beneath $0.2920. If Ripple is unable to move above $0.2930, selling pressure will keep on increasing. This selling pressure could soon drive the price underneath $0.2850 and $0.2820 in the short term.

Janet F. Sanchez

Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

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