XRP is testing support levels, making a break below $0.71 and preparing to drop to $0.69.
The value of the Ripple token (XRP) dipped early on Friday morning, following a 21% surge in the currency overnight. As of this writing, the price of XRP is sitting at $0.711, with the total market cap of the cryptocurrency now valued at $25.3 billion, and our Ripple Price Prediction Tracker is currently predicting a price of $0.928 by the end of 2018.
With the Ripple price movement just recently getting started and a potentially huge move coming tomorrow, it is time to take a look at the Ripple price.. Read more about ripple price usd and let us know what you think.
- Overnight, the price of XRP plummeted.
- Some of the lost ground was recovered today.
- Ripple is bracing for further losses.
The market witnessed a rapid surge down, followed by a bounceback to prior highs and rejection for additional upward, indicating that negative momentum will continue over the next 24 hours. As a result, we anticipate XRP/USD to drop later today, aiming for the $0.65 support level.
Heat map of cryptocurrencies. Coin360 is the source of this information.
Over the past 24 hours, the cryptocurrency market has been in the red. Bitcoin fell by almost 5.4 percent, while Ethereum fell by 0.86 percent. The remainder of the leading cryptocurrencies have lost 2-4 percent in comparison to the majors.
Ripple price movement in the past 24 hours: $0.70 support is tested.
Over the past 24 hours, XRP/USD has moved in a range of $0.7073 to $0.7733, suggesting high volatility. The overall trading volume has risen by 8.8% to $2.78 billion. The entire market value of the cryptocurrency is approximately $34.7 billion, putting it in sixth position worldwide.
XRP/USD 4-hour chart: Is XRP about to hit new lows?
On the 4-hour chart, we can see the Ripple price retracing to retest prior highs with rejection over the last several hours, implying that further downside is likely later today.
4-hour chart of XRP/USD. TradingView is the source of this information.
Over the second part of July, ripple price movement has traded with a strong bullish momentum. After reaching a slightly higher low of $0.52 on July 20th, XRP/USD rebounded by approximately 50% to $0.76.
XRP/USD tried to test more upside over the weekend, but could only make slightly higher highs, with the final push higher hitting $0.78 barrier. As a result, Ripple’s positive impetus is likely to be spent.
Overnight, XRP dropped sharply below the previous support level of $0.70, signaling market weakness. XRP/USD recovered rapidly from the $0.70 support, returning to prior highs and setting a lower high, with additional upward denial. As a result, the market is expected to go down again later today, breaking below $0.70 and testing the next support level around $0.65.
Conclusion of the Ripple Price Analysis
Ripple price analysis is negative for today after a recovery from the $0.70 support level was denied earlier today. As a result, we may anticipate XRP/USD to drop later today in an effort to break through the $0.70 level.
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