Unfortunately, Ripple has not followed the growth of Bitcoin and Ethereum, as its rate has increased by only 1% over the last day. Furthermore, the trading volume index has lost around $300 mln, meaning that traders prefer other coins to XRP.
In terms of the technical analysis, the picture is looking the following way.
Ripple managed to pass the resistance around the levels of $0.3050 and $0.3080, and the next barrier is located near $0.3220. This resistance match to a 50% Fibonacci retracement line. If it fails to achieve it, one may expect an upcoming price decline.
On the 4H chart, Ripple has touched the bottom and unlikely to drop below $0.29. The bullish MACD indicator confirms such a statement. Thus, RSI is on the verge of the oversold area, suggesting that sellers have run out of steam. In this regard, the quotes might reach the nearest resistance at $0.35 in a few days.
At the time of writing XRP price is trading at the level near $0.3124.
