- XRP saw a 1.5% price drop over the past 24 hours of trading as the cryptocurrency drops to $0.184.
- XRP has actually been trading sideways over the past week between $0.2 and $0184.
XRP witnessed a 1.5% price decline over the past 24 hours of trading as the cryptocurrency continues to trade at the support provided by a .236 Fib Retracement level at $0.184. The cryptocurrency has been trading in a range between resistance at $0.20 and support at $0.184 for the past week of trading.
XRP also recently managed to find support at a rising trend line with a break beneath this signal a downward trend may be on the horizon.
XRP Price Analysis
XRP/USD – Daily CHART – SHORT TERM
Market Overview
Analyzing the daily chart above, we can clearly see XRP struggling at the $0.20 level last week. The resistance here was provided by a bearish .382 Fib Retracement level that is measured from the February high to the March low.
After rolling over from this resistance, the cryptocurrency dropped into the support at $0.184 which is provided by the short term .236 Fibonacci Retracement level. It has also recently reached support at a rising trend line.
Trending Stories
Short term prediction: NEUTRAL
XRP can pretty much be considered as neutral after trading sideways for over a week. However, if it was to drop beneath $0.184 and the rising support trend line then the market is likely to turn bearish.
If the sellers push lower, the first level of support lies at $0.18. Beneath this, support lies at $0.17 (.382 Fib Retracement), $0.159 (.5 Fib Retracement), and $0.148 (.618 Fib Retracement).
On the other side, if the bulls climb higher, the first level of resistance will be located at $0.20 (bearish .382 Fibonacci Retracement level). Above this, resistance lies at $0.211, $0.229 (bearish .5 Fib Retracement), and $0.24.
Key Levels
Support:$0.19, $0.18, $0.1776, $0.1667, $0.16, $0.15, $0.14, $0.127, $0.12, $0.116, $0.10, $0.097, $0.08.
Resistance: $0.20, $0.22, $0.229, $0.238, $0.24, $0.25, $0.251.
- Are Hedge Funds Planning USDT Dump? Tether CTO Responds To Rumors
- Here’s Why Apecoin (APE) Price Is Skyrocketing Today
- Crypto Prices Falling Despite “Buy The Dip” Sentiment, Data Reveals Why
- Institutional Traders Dumped Bitcoin At A Record Pace Last Week
- Terra USTC Jumps 300%; Lands Back In Top 100 Cryptos
- Ripple’s EX CTO Dumps 40 million XRP tokens In Last 10 Days
- Dogecoin Soars 35%, Here’s Why Breaking This Level Is Crucial
- Crypto Lender Nexo Denies Fraud, Issues Cease And Desist Notice
- Ethereum (ETH) Price Rise and Stability Pulls Broader Crypto Market to $1 Trillion
- Scoop: This Hedge Fund Is Trying To Bailout BlockFi To Counter FTX
- Tezos Price Analysis: XTZ Rebounds from Yearly Support; is it a good buy?
- Tron Price Analysis: Triangle Pattern Governs the TRX Price Action; Should Coin Holders Worry?
- Dogecoin Price Analysis: DOGE Winning Streak Aims to Reclaim $0.077
- Apecoin Price Analysis: Reversal Pattern Sets 21% Rise in APE Price
- Ethereum Price Analysis: Will ETH Relief Rally Revert From $1300?
- Bitcoin Price Analysis- Higher Price Rejection Hints BTC to Retest $20000
- SHIB Price Analysis: Overhead Supply Pressure Hints SHIB to Retest $0.00001
- Avalanche Price Analysis: Will The AVAX Breakout Rally Reach $30?
- Sandbox Price Analysis: U-shaped Recovery could Lead SAND above $1.5
- NEAR Price Analysis: Reversal Within Channel could Sink NEAR Below $3
