HomeAltcoinsRipple price analysis: XRP/USD prices slip below $0.3691 as market conditions turn...

Ripple price analysis: XRP/USD prices slip below $0.3691 as market conditions turn bearish

-


Ripple price analysis shows that the market has turned bearish with prices slipping below $0.3691. Prices have found support at $0.3689 and any further decline may see XRP prices testing the $0.3650 handle in the short term. Resistance for the pair is present at $0.3959 and any further upside may see XRP prices testing the $0.3989 handle in the short term. Ripple price analysis shows that the market has turned bearish after a brief period of sideways trading. However, the bulls are expected to make a comeback soon and push prices higher.

XRP/USD 1-day price chart: Bears are adamant as they push prices below $0.3691

The 1-day Ripple price chart shows a bearish trend as the market conditions have turned bearish. The prices have been trading between a range of $0.36 to $0.39 in the last 24 hours. The next few days are critical for the Ripple market as the prices may see a further decline if the bears remain in control. Ripple price analysis shows that the market may see some volatile price action in the next few days as the bulls and the bears battle for control of the market.

Ripple price analysis: XRP/USD prices slip below $0.3691 as market conditions turn bearish
Ripple price analysis: 24-hour chart. Source: Trading View

Moreover, the market’s volatility follows a slight closing movement, resulting in the cryptocurrency being less prone to volatile change on either extreme. As a result, the upper limit of Bollinger’s band rests at $0.3959, and the lower limit of Bollinger’s band is present at $0.3689. The XRP/USD price travels under the Moving Average curve, indicating the market is following a bearish movement.

Ripple price analysis reveals that the Relative Strength Index (RSI) score is 43.31 making the cryptocurrency stable, falling under the lower neutral region. Furthermore, the RSI score moves slightly upwards, indicating that the buying activity slightly outweighs the selling activity while moving towards increasing dynamics.

Ripple price analysis for 4 hours: XRP market opens

Ripple price analysis has entered a bearish movement in the last 4-hours. Moreover, as the volatility opens, the value of the cryptocurrency moves with a volatile change; the price is more prone to variable change in this instance. As a result, the upper limit of Bollinger’s band rests at $0.4015, while, the lower limit of Bollinger’s band rests at $0.3264.

Ripple price analysis: XRP/USD prices slip below $0.3691 as market conditions turn bearish
Ripple price analysis: 4-hour chart. Source: Trading View

The XRP/USD price appears to be crossing under the Moving Average curve, displaying bearish momentum. On the other hand, the market can be seen shifting to an upward movement as the price favors a positive approach. The Relative Strength Index (RSI) score appears to be 51.67, showing the cryptocurrency’s extremely low value.

Ripple price analysis conclusion

Ripple price analysis shows bearish momentum with strong possibilities of further decline in its price in the coming days. The bears have captured the market. If the bulls fail to strike back soon, the bears will engulf the market for the long term. However, since the bears show massive potential, they can have a chance to consume the market entirely, but if the price breaks the support. Then, the market dynamics might be shifted in the bulls’ favor.

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

Never mind FTX — Fine arts institutions should still onboard to blockchain

The strategic adoption of blockchain technology still makes sense, regardless of the distraction FTX created for cryptocurrency. The reality is that blockchain technology...

NFT Steez and Victor Solomon chat about building in Web3 and the Metaverse

This week NFT Steez spoke to award winning artist Victor Solomon about basketball, the Metaverse, Web3 and his unique NFT collection. On Dec....

South Korean judge dismisses arrest warrants for Terra co-founder Do Kwon’s former associates

Judge Hong Jin-Pyo reportedly said there was little risk of Shin Hyun-seong or other Terra associates destroying evidence related to the case against...

DeFi ecosystem still haunted by FTX contagion: Finance Redefined

Top-100 DeFi tokens saw a bullish wave with the start of the new month, but many DEX platforms are still haunted by FTX...

Most Popular

spot_img