Ripple (XRP) Price Analysis : XRP Price Reaching And Increasing Vulnerability To Break Below Critical Level Of $0.20

  • The current price of XRP was finally showing sustainability after breaking the resistance level of $0.18.
  • However, the resistance level of $0.23 keeps allowing the bears to come into play again.
  • The XRP/BTC pair is also performing positively with the overall gain of 0.52% bringing the level to 0.00002123 BTC. 
 Source: Coinmarketcap

From the starting of May, Ripple XRP is enjoying pricing recovery due to the significant bullish momentum in the market. It crossed the major hurdle of $0.20 without any hesitation and reached its critical resistance area of $0.23. Due to which XRP Price started facing a heavy downfall which resulted in significant price pullback. It touched the major support level of $0.15 and currently broke the resistance of $0.18 too. Ripple XRP recently lost its top third position in the market.

However, crossing the crucial mark of $0.20 will be a positive sign for the XRP. A break above the price level of $0.23 which pushes the XRP prices to a safe zone. The current price is $0.20 with an overall gain of 1.26%. The market capitalization is $8,821,228,445 and volume traded of $1,977,310,336.  

Ripple XRP Price Analysis

Screenshot (4)
Source: Tradingview

The technical chart reflects on the bullish momentum build by Ripple from the starting of May which is later followed by the price recovery line. XRP touched its month-high of $0.23 during its bullish momentum and currently on the vulnerable level of $0.20 with negative momentum.

The technical indicators and oscillators suggest that the crucial price level of $0.20 will provide XRP the needed boost. MACD levels have reached the bearish zone with significant buying volume which is a positive sign. RSI is also reaching a neutral level of 50 in the graph with a positive divergence. CCI is also in the normal region but close to the oversold zone with positive nature.

Resistance level: $0.23

Support level: $0.20 and $0.16

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The post Ripple (XRP) Price Analysis : XRP Price Reaching And Increasing Vulnerability To Break Below Critical Level Of $0.20 appeared first on CryptoSyringe: Cryptocurrency , Bitcoin, Ethereum & Blockchain News.


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