Following yesterday’s brief pullback, the XRP price has rallied back above $0.40 today, opening up a new day low. The cryptocurrency has now broken out to resistance at $0.41. It remains to be seen whether this rally will continue to the upside, but it is difficult to see how the cryptocurrency can maintain prices above the recent peak of $0.47.

On Tuesday, XRP prices were a little on the low side, moving sideways around $0.39. This was a continuation of yesterday’s trend, when XRP’s prices had been falling steadily from $0.45 at 11:00 UTC to $0.34 at 12:00 UTC.

The ripple price is unchanged this morning, as the ripple price is still up 24% on the week. The ripple price is trading at $0.62, but it’s still up 24% on the week. The ripple price is still down 12% on the month, as it’s up 15% on the week.. Read more about xrp news and let us know what you think.

Summary of the situation

  • The XRP reached a lower top yesterday.
  • The market consolidated around $0.66 overnight.
  • Next push to $0.60 support level.

Ripple’s price analysis for the day ahead is bearish, as the market set a lower high around $0.70 and has been consolidating since. Given the overall price dynamics in the market, we can expect Ripple to be pushed lower today and then hit the $0.60 support level.

Heatmap for crypto-currencies. Source: Coin360

Ripple price analysis: XRP moves sideways overnight, spike to $0.60 next?

The general market has moved into negative territory over the past 24 hours. Bitcoin remained relatively stable with a small loss of 0.13%, while Ethereum fell about 1.9%. The rest of the market shows similar results, slightly declining.

Ripple price movement in the last 24 hours

The XRP/USD traded in a range of $0.6548 to $0.6799, indicating moderate volatility. Trading volume fell 4.5% to $2 billion. At the same time, the total market size is $30.8 billion, which puts the cryptocurrency in 6th place overall.

XRP/USD 4-hour chart – Is the XRP preparing for another wave of declines?

On the 4-hour chart, we see that the price of Ripple is consolidating in anticipation of another downward push.

Four-hour chart of XRP/USD. Source: TradingView

Ripple price analysis: XRP moves sideways overnight, spike to $0.60 next?

Price action on the world market has been showing downward dynamics for several weeks. After he went down to $0.50 on the 23rd. June The XRP/USD rose for more than a week until it reached the blue line of the 100-day moving average.

Since then, the XRP/USD made no progress earlier this month and set a lower high around $0.70. The result was a decline on Monday and a consolidation around $0.66.

As a result, Ripple is poised to drop back and try to test new lows later in the month. First, support at $0.60 will likely provide some support, and if broken, will likely increase the speed of Ripple’s continued decline.

Ripple price analysis: Supplement

Ripple’s price analysis is generally bearish, as the market has set a lower high around $0.70 after exhausting bullish momentum from earlier this week. Therefore, we expect the XRP/USD to move lower today and reach the $0.60 support.

In anticipation of Ripple’s decline, read our guides on the benefits of DeFi, bitcoin commissions and what you can buy with bitcoin.

Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.The ripple price has been trending sideways over the last couple of days, as the bulls were unable to break out of the $0.40 level. At the same time, the number of open short positions has increased, reflecting the bulls’ lack of conviction for the $0.50 level. The bears have been very vocal in recent days, which has spilled over into the comment section, with many arguing that the $0.50 level is a major support, while others are saying it is a major resistance. The key support level is $0.40, while the key resistance level is the $0.50 level.. Read more about xrp myr tradingview and let us know what you think.

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