TL;DR Breakdown
Ripple price analysis is bearish today.XRP/USD continued sideways yesterday.$0.75 support is likely to be tested again.
Ripple price analysis is bearish today, as the market has failed to retrace after continuing to consolidate above $0.75 throughout the day. As a result, we expect XRP/USD to drop even more early next week and complete the overall retracement.
On the 4-hour chart, XRP/USD is currently trading below the $0.75 support and looks poised to continue lower. The next key support level to watch out for is $0.68. A break below this level could push Ripple‘s price towards the $0.50 mark.
On the daily ripple price analysis chart, Ripple’s price is stuck between the $0.75 and $0.68 support levels. A break below either of these levels would confirm a bearish trend reversal.
Thus, we remain bearish on XRP/USD in the short-term and expect it to continue lower towards the $0.50 mark over the next few days.
Ripple price movement in the last 24 hours: Ripple fails to retrace, continued sideways
XRP/USD has failed to retrace after yesterday’s brief rally. The market has been consolidating near the $0.75 support for the past few hours and looks poised to continue lower in the near-term.
At the time of writing, XRP/USD is trading at $0.74 and is down by 1% over the past 24 hours. The market has a bearish short-term outlook and is likely to drop below $0.75 in the next few days.
The daily ripple price analysis chart shows that Ripple’s price is stuck between the $0.75 and $0.68 support levels. A break below either of these levels would confirm a bearish trend reversal in the market.
XRP/USD remained relatively stable yesterday, as the market failed to make a decisive move in either direction. The $0.75 support level remains key for the bulls, as a break below it would confirm a bearish trend reversal.
Ripple’s price is bearish today, as the market has failed to retrace after continuing to consolidate above $0.75 throughout the day. As a result, we expect XRP/USD to drop even more early next week and complete the overall retracement.
XRP/USD 4-hour chart: Bearish trend continues
Ripple’s price is bearish today, as the market has failed to retrace after continuing to consolidate above $0.75 throughout the day. As a result, we expect XRP/USD to drop even more early next week and complete the overall retracement.
XRP/USD 4-hour chart. Source: TradingView
Ripple’s price is bearish today, as the market has failed to retrace after continuing to consolidate above $0.75 throughout the day. As a result, we expect XRP/USD to drop even more early next week and complete the overall retracement.
The RSI indicator is currently trading below the 50 level, which confirms that the bearish momentum is still strong.
The 4-hour chart shows that Ripple’s price is trading below the $0.75 support level and looks poised to continue lower towards the $0.68 support level. A break below this level could push XRP/USD towards the $0.50 mark over the next few days.
Ripple price analysis: Conclusion
Ripple price analysis is bearish today, as we have yet to see any buying pressure since Friday’s $0.75 support was revisited. As a result, we anticipate XRP/USD to continue falling even further early next week and to retrace even more from its previous large rise.
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