The XRP token has formed resistance at $0.2950, $0.3000 and $0.3055 while it has formed support at $0.2880, $0.2850 and $0.2800. The relative strength index is moving below the 50 level.
This means that the bears are taking control of the market. However, the MACD is gaining momentum to move from the bearish to the bullish territory. In the early hours of trading today, the XRP bears pushed the token lower but the support at $0.3055 held the line allowing the bulls to gather some momentum. This didn’t last long and the token declined to the support at $0.3050.
At the time of writing, XRP was moving toward the key support at $0.2880. If the bears push the token any lower, there is a strong chance that it will test the $0.2850 level before the bulls gain any strength. There is a lot of strength in the $0.2872 area even if the token is currently bearish.
XRP must find a way to cross the resistance at $0.2970 if it can find its way back to the $0.3274 resistance. In the next few trading sessions, we will be able to give a more accurate price prediction for XRP.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Ripple XRP Starts Correcting Lower With the Rest of the Cryptocurrency Market
- Analyst Predicts that the Token isn’t Going to Move Lower Without a Fight
After days of trading bullish against the USD, the entire cryptocurrency market has been correcting lower against the USD. XRP is also declining against the USD. Yesterday, the token surged to the $0.3250 level but it fell by 8% this morning as it faced rejection at this point.
The good news is that the uptrend support levels at $0.2880 and $0.2850 held the line preventing lower lows against the USD. The technical indicators are showing mixed signals. There are signs of a bullish momentum and signs of bearish pressure as well. What will the future bring for XRP?
Ripple XRP Price Prediction 2020 – XRP Falls From the $0.3200 Level but it Finds Support
At the time of writing, the price of the XRP token was $0.293575. It is down by 5.58% against the USD and down by 2.40%against Bitcoin BTC. The trading volume over a 24 hour period is $2,193,510,782 and the market capitalization is $13,194,022,341.
Bitcoin has been recovering lower since it breached the $12k level. It is now trading at $11,860.60. This means that it is down by 2.49% against the USD with a 24 hour trading volume of $27,655,236,696 and a market capitalization of $219,005,746,499.
