The Ripple price is falling like a house of cards. It seems that the Ripple price market is getting nervous. At the time of writing this, the Ripple price is sitting at $0.237 (-0.06%). Will the XRP price continue to fall? Let’s take a look at it.
Ripple Price Analysis: Where is XRP Price going?
XRP/USD Daily – Tradingview
As we mentioned in our previous analysis, the Ripple price was already quite weak losing the daily uptrend way before any of the other major coins. At the time of writing, the Ripple price is currently trading at around $0.237 and it is trying to bounce off the daily 100-EMA at $0.234 The daily RSI has not only calmed down but it’s almost meeting the oversold territory. The MACD has been bearish since August 10 and the 12-EMA has crossed bearishly with the 26-EMA.
At the moment, the XRP/USD price is displaying nervous behavior. The 30 days volatility is almost 0.720 and the 30 days Sharpe ratio is looking terrible and it is sitting at -3.50. This could indicate that the XRP price is in the red zone. The next three resistances levels could be crucial for the Ripple price to move forward.
- 0.382 Fib (0.288)
- 0.5 Fib ($0.279)
- 0.786 Fib (0.257)
Ethereum Price Could Be The First to Rebound, Aiming For $400
Ripple Price Analysis: XRP Price Weekly Chart
XRP/USD Weekly – Tradingview
The short-term is looking bearish for XRP/USD price and the entire market, it’s necessary to closely monitor and take a peek at the larger picture. The weekly chart could still be in an uptrend and bulls may be trying to defend the 12-EMA and they could be holding the 26-EMA.
Now, if we closely observe the weekly chart then we will find that the RSI has cooled off prominently and the MACD continues to be bullish and has been bullish since April. Still, bulls were weak to crack above the 100-EMA which was a significant resistance level to conquer. Anything above $0.169 could be considered a higher low and restoration of the uptrend. The key metrics are as follows:
Price $0.237
24hr Change -0.14%
24hr Vol $133,535,593
Liquid Marketcap $7,667,332,464
Liquid Supply 32,364,523,575
Conclusion
The next support target for XRP price could $0.233 and of course, the psychological level at $0.20. A bounce from any of these two levels could push Ripple price above $0.25 again and could create a stability pattern in the forthcoming weeks.
Want more price analysis? Join CryptoTicker on >>Telegram<< and >>Twitter<<
In order to support and motivate the CryptoTicker team, especially in times of Corona, to continue to deliver good content, we would like to ask you to donate a small amount. Independent journalism can only survive if we stick together as a society. Thank you
Nexo – Your Crypto Banking Account
Instant Crypto Credit Lines™ from only 5.9% APR. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance.
Ad
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission – but the prices do not change for you! 🙂
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
You might also like
More from Ripple
XRP / Ripple Price Forecast – What’s Next For The XRP Token?
The price of Ripple started off well and neared our target at ±$0.35. Now, XRP’s price is struggling again. Can …
XRP Price Analysis: How high can Ripple Price go in 1 month?
It seems that the XRP price wants to make a statement in the next few days. The Ripple price is in the …
Ripple Price Analysis: XRP Price building gains above $0.293
The XRP price has been showing great performance again. Today, the third-ranked cryptocurrency in the world has encountered an almost …