- Today’s ripple price research indicates a negative trend.
- At $0.778, there is significant resistance.
- The price of $0.749 provides strong support for XRP.
Today’s Ripple price analysis reveals a price decrease. At the time of writing, the price of XRP/USD was $o.763. However, after surging to $0.771, the market has begun to see selling pressure, and the currency has begun to decline. Overall, the XRP/USD pair is on a mild downturn after reaching a high of $0.874 on February 8th, with positive periods in between. Bulls even made a high yesterday, but the trend has shifted today, and the bears are attempting to hold the market again.
1-day XRP/USD price chart: XRP enters the corrective phase
The 1-day Ripple price analysis suggests a price reduction, as the value of cryptocurrency fell marginally today. Following a peak yesterday, XRP appears to be retracing as the price has approached around the resistance level of $0.788. XRP/USD continues on the plus side of the equation, with a value increase of 8.13 percent over the last 24 hours. However, the crypto pair has lost 5.33 percent in the previous seven days, and the general trendline remains slightly negative.
Volatility is rather high, with Bollinger bands showing the upper band at $0.896 as the highest resistance and the lower band at $0.681 as the strongest support. The average of the Bollinger bands is $0.788 above the price level. The moving average (MA), a key indicator, is $0.747 below the price level. The relative strength index (RSI) stands at 51, remaining neutral but trending slightly lower.
Recent developments and more technical indicators for the ripple price
The 4-hour price chart for Ripple price analysis shows a red candlestick growing in size with time on the chart, indicating that selling pressure has emerged for XRP. Bears have effectively turned the tables and are lowering the price following yesterday’s bullish action and even today’s higher price breakthrough. As the XRP/USD pair price falls, bulls’ next strong support is at $0.749, followed by another strong support at $0.721.
Volatility is rising in the current session as Bollinger bands diverge. The Bollinger band endpoints increase, with the top band at $0.783 and the bottom band at $0.627, for an average of $0.705. The price is still hovering around the top band. The moving average is now at $0.727. In the 4-hours chart, both averages are below the price level.
The relative strength index (RSI) is at 60, and the curve is sloping downward. However, the indicator’s score remains on the upper neutral side.
The 1-day and 4-hours price study of Ripple suggests a negative price trend. As XRP returns to $0.763, selling pressure has returned to the market. However, after today’s price decrease, there is still a good potential of a price turnaround because there is still room for bulls to push the price back up.