Ripple Price Analysis: XRP Struggles to Keep Up with the Market Bulls

  • Ripple gives a mild response to the recent BTC price rally 
  • XRP returns to $0.31 price range after a short term surge above $0.33
  • Ripple is still having a selling pressure, and the coin has recently broken below the support level of $0.32

Despite the recent price rally of Bitcoin, XRP price trend has not shown much excitement. Today, BTC traded above $12k before it pulled back near $11,900 recently.

Yesterday, initially, XRP price was trading bearishly around $0.31 and it took a notable sharp surge at 9:42 UTC trading above $0.33 with an increase of 3.29%. Here, it had hit its 7-Day High price point. The coin then started to move downwards and it traced two lower highs at $0.3283 and $0.3248.

Later, XRP saw support at $0.3182 and it rebounded from there to $0.3246. However, it dropped sharply from there and returned back to the price range of $0.31. At 10:35:59 UTC, XRP was trading at $0.3164.

XRP/USD Price Chart

Ripple Price ChartRipple Price Chart
Ripple Price Chart

XRP’s current price is carrying prolonged selling pressure and the coin is still below its 30-day SMA. Additionally, XRP has recently broken major support level near $0.32.

Ripple Price Prediction & Technical Indicator:

MACD for XRP/USD is moderately volatile and is moving in the bearish zone at present. RSI for the coin is below 30 indicating its oversold momentum. XRP may see resistance at $0.3301 and support levels at $0.3127.

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