HomeAltcoinsRipple price analysis: Bearish momentum suppresses price below $0.3551 after return

Ripple price analysis: Bearish momentum suppresses price below $0.3551 after return

-


Ripple price analysis is going through a loss as the price underwent a decline up to $0.3496 today. The downtrend has been quite constant for the last two days, and even today, the price has followed a downward movement. The reversal in trends had been quite unexpected as the bulls were leading previously. Nonetheless, the bears have taken charge once again, and the price has been devalued. The Cryptocurrency is down by0.58 percent, with a trading volume of $1.78 billion and a market capitalization of $17.52 billion.

XRP/USD 1-day price chart: Bearish swing deflates price levels to $0.3496

The bearish momentum has been intensifying according to the one-day Ripple price analysis. The price has been downgraded to $0.3496 as a result of the constant downflow. The past few days have been quite discouraging for the cryptocurrency as a strong bearish trend was going on. Similar trends have been reported during the last 24 hours as well. The price has gone below the moving average (MA) value as well, which is standing at $0.3895.

Ripple price analysis: Bearish momentum suppresses price below $0.3551 after return
Source: TradingView

The volatility is increasing, which means that the downswing might last for the coming hours as well. If we discuss the Bollinger bands Indicator, then its upper value is at $0.5387, and the lower one is at the $0.3284 position. The Relative Strength Index (RSI) index has been lowered to 43.69 as well.

Ripple price analysis on a 4-hour price chart: Bearish depression results in collapse below $0.3551

The 4-hour Ripple price analysis is showing signs of bearish momentum as the price decreased quite significantly. The price has been declining consistently as the cryptocurrency is showing a downward tendency. A reduction in price has been recorded in the last four hours as well as the price levels moved down to $0.3496. Moving on, the moving average indicator is showing its value at $0.3461 at the time of writing.

Ripple price analysis: Bearish momentum suppresses price below $0.3551 after return
Source: TradingView

The volatility has increased because of the bearish slope, and the Bollinger bands are expanding. The upper Bollinger band is standing at $0.3907, the lower Bollinger band is at $0.0.330, while the overall average is being maintained at $0.3465. The RSI index dropped drastically to 37.10 as well, quite near the undersold zone.

Ripple price analysis conclusion

The one-day, as well as the four hours Ripple price analysis, predicts that a downtrend has been following for the last six hours. The bears are leading the game at the moment, and the price levels have been brought down to $0.3496 as a consequence. A Further downfall can be expected as the bears have been dominating for the past few hours as well. The price has been persistently moving down, which means that chances of improvement for the bulls are still on the limited side.

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Brazil passes law to legalize crypto as a payment method

The law was approved by the Chamber of Deputies of Brazil but still requires the approval of the executive branch to be enacted....

Blockchain-based supply chain platform canned by IBM and Maersk

Although the TradeLens platform will officially go offline in Q1 2023, Maersk said it's not given up its effort to digitize the supply...

Bankruptcy court told FTX and Alameda owe BlockFi $1B… but it’s complicated

While BlockFi has attempted to separate itself from FTX and Alameda in its bankruptcy proceedings, it has many financial ties to firms owned...

Bankman-Fried on the hook in Texas, called to appear at Feb. hearing

The Texas Securities Board has asked the judge to consider leveling a cease-and-desist order, administrative fines, and forced refunds against SBF and FTX...

Most Popular

spot_img