HomeAltcoinsRipple could break above the intraday highs of $0.4175; if bulls overwhelm...

Ripple could break above the intraday highs of $0.4175; if bulls overwhelm the bears

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Ripple price analysis is currently trading at $0.3983 after a slight retreat from yesterday’s high of $0.4175. The price is trending in a descending channel formation. This week, the altcoin’s greatest challenge has been to break above the $0.4530 resistance. XRP/USD corrected lower yesterday.

At the time of writing, Ripple is changing hands at $0.3983 after a slight retreat from yesterday’s high of $0.4175. The price is trending in a descending channel formation as it fluctuates between the upper and lower boundaries. This week, the altcoin’s greatest challenge has been to break above the $0.4530 resistance. After failing to do so, XRP/USD corrected lower yesterday as bulls lost strength.

Ripple price movement in the last 24 hours: XRP/USD pair experiences high votality

The Bollinger Bands on the 1day time frame have opened up, indicating high levels of volatility in the market. The candlesticks are currently trading between the upper and lower Bollinger bands. The MACD slowly moves towards the bearish side as the signal line crosses below the histogram. The RSI indicator is at 57.44, and it looks like it could move to the oversold region as the market continues to correct lower.

Ripple could break above the intraday highs of $0.4175; if bulls overwhelm the bears
Source: Tradingview

The Relative Strength Index (RSI) indicator is currently at 57.44, and it looks like it could move lower to the oversold region. The MACD indicator is also slowly moving towards the bearish side with the signal line crossing below the histogram.

The XRP/USD is currently trading at $0.3983 after a slight retreat from yesterday’s high of $0.4175. Since this month, the market has been on a steady downtrend as the bears take control.

XRP/USD 4-hour chart: Recent price movement

On the 4-hour Ripple price analysis chart, we can see that Ripple has been on a steady downtrend since the beginning of this month. The market has found some support at the $0.3850 level but has failed to hold above this level for an extended period. The $0.4530 level has served as resistance for the market over the past few days, and this level will likely continue to be a major obstacle for any upside movement soon.

Ripple could break above the intraday highs of $0.4175; if bulls overwhelm the bears

Source: Tradingview

From Ripple price analysis technical perspective, the Relative Strength Index (RSI) is currently trading at 42.8, which indicates that the market is currently in neutral territory. The MACD is currently in neutral territory but is close to crossing into bearish territory.

The Ripple price action has formed a descending triangle pattern. This is bearish, suggesting the market will continue moving lower. The downtrend is losing momentum as the market approaches the $0.3900 level. This could be an area of support for the market soon.

Conclusion

Ripple price analysis is bearish today as the market continues to lower. The $0.4530 level is likely to be a major obstacle for any upside movement soon. The MACD is also in neutral territory but is close to crossing into bearish territory.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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