At the time of writing, the price of the XRP token was $0.249627. It is up by 0.33% against the USD and up by 0.21% against Bitcoin BTC. The trading volume over a 24 hour period was $1,753,434,667 and the market capitalization was $11,243,791,281.
The token is slowly moving away from the positive zone and is at risk of falling below the support at $0.2480. The XRP token must remain above this level to prevent lower lows and a decline to the next support at $0.2320.
Depending on what happens in the next few hours of trading, the XRP token might take three possible movies. First, it will find stability around the $0.24 level and remain there for a few days and trading sessions. Secondly, the token could fall below the support at $0.2480 and continue to decline until it gets to the support at $0.2420. A fall below this support will take the XRP token back to the $0.2320 level. The third and most preferable action is a bullish recovery above the $0.2580 resistance.
If the XRP token can move higher above the $0.2580 level, it will gain the momentum it needs to finally test $0.260 for the first time in a long time. Rise above the pivotal $0.2620 level will see XRP testing $0.2700 in no time.
With misleading information on the technical charts, traders are being careful not to make rash decisions that may lead to great losses. The MACD is moving toward the bullish territory and the relative strength index is above level 50. Still, the bears aren’t ready to leave the market. Bitcoin is only making things worse for XRP by failing to stay above the $12k level. Bitcoin is currently struggling to hold the bullish momentum above $11.8k but there is no telling how long it will take for the BTC price to reachs $12 again. If it does, XRP might have what it takes to finally cross the $0.27 level.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
- Ripple XRP Crosses the 100-day Simple Moving Average Providing Hopes for Near-term Recovery
- XRP has Failed to Clear the Resistance at $0.2580 Falling Lower Against the USD
- The Support at $0.2420 will Prevent Lower Lows Near-term but It’s Not Clear How Long it will Last
Yesterday, the Ripple XRP token showed signs of bullish recovery as it crossed the 100-day simple moving average. At the time, the XRP price prediction placed the token on the road to higher highs near-term if the token managed to stay above the $0.2480 positive zone.
Unfortunately, the token faced key resistance as it moved higher and was unable to cross the key resistance at $0.2580. The technical indicators are showing mixed signals so it’s difficult to determine what direction the token will take in the next few days.
