For the last few days, XRP has been stuck in the $0.2559 to $0.2620 range. While it’s not trading at its best, the token is well over the weekly low of $0.2372.
The MACD is currently in the bearish territory but it is slowly losing momentum in that level and will most likely enter the bullish territory soon. The relative strength index is also near the 40 levels. This is bearish but the momentum is picking up. Ripple XRP is now trading below the 100 level simple moving average. It is also below the 23.6% Fib retracement level of the last rise from $0.2674 to $0.2372.
The key support levels for XRP are $0.2440, $0.2400, and $0.2380. The key resistances are at $0.2500, $0.2550, and $0.2560.
There are two possibilities for the XRP token in the next few days. On the one hand, if the XRP token falls lower than the support at $0.2500, or will find support at $0.2450 and even lower to the $0 2440 level. The next major support after this will be at $0.3200 and eventually the $0.2200. If the token moves higher, it will need to cross the resistance at $0.2560, $0.2720, and higher.
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 Continues to Drop Falling Below the $0.2500 Level
- The Immediate Resistance is at $0.2560 and XRP Must Move Above this Level to Make Progress
Things have been hard for XRP over the last few weeks as the token has continually declined against the USD. It all started when the price of Bitcoin BTC failed to hold the support at $11,500 dragging the rest of the cryptocurrency market down.
Ripple XRP was one of the tokens to suffer the most as the market decline started. Things got worse this week and even took a more negative turn yesterday when the price of the token declined below the all-important $0.25 support level.
XRP Price Prediction – XRP Faces Resistance at the $0.2560 Level With Possible Lower Lows on the Way
At the time of writing, the price of Ripple XRP was $0.254484. This means that it is down by 6.42% against the USD and up by 1.55% Bitcoin BTC. The trading volume over a 24 hour period was $2,103,404,711 and the market capitalization was $11,454,643,722.
Over the last 24 hours, the XRP token is down by more than 10% and there is a strong chance that it will keep declining as long as Bitcoin BTC and Ethereum ETH don’t recover and put some juice into the market soon. Right now, there is strong support at the $0.2500 level but the token will decline before the end of today’s trading session.
