Ripple is facing stagnation against the positive market mood. Should we expect an upcoming price rise or not?
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
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.
Ripple charts by CoinMarketCap
In terms of the technical analysis, the picture is looking the following way.
XRP/USD chart by TradingView
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.
XRP/USD chart by TradingView
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.
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Denys Serhiichuk
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at [email protected]
CryptoComes Original Article
