TL;DR Breakdown XRP tests support at $0.80. XRP moved higher earlier today. The support found around $0.90. Today’s Ripple price prediction is bearish as the market continued moving lower yesterday and set a slightly higher low at $0.80. From there, XRP/USD started moving lower again over the past hours as bears look to test further … Read more
- XRP tests support at $0.80.
- XRP moved higher earlier today.
- The support found around $0.90.
Today’s Ripple price prediction is bearish as the market continued moving lower yesterday and set a slightly higher low at $0.80. From there, XRP/USD started moving lower again over the past hours as bears look to test further lows.
XRP/USD opened at $0.832 after a slight bearish close yesterday. Since then, some retracement to the upside was seen, with a local lower high set. Therefore, we expect the Ripple price to move lower over the next 24 hours.
Ripple price movement in the last 24 hours
The XRP/USD price moved in a range of $0.7951 – $0.9085, indicating mild volatility. Trading volume has increased by 5.67 percent, totaling 5.2 billion. The total market cap trades at $40.47 billion, ranking cryptocurrency in 6th place overall.
XRP/USD 4-hour chart – Ripple sets a lower high
On the 4-hour chart, we can see the Ripple price retrace over the last 24 hours and retest resistance at $0.90, from which we expect to see another move lower latest today.
The overall market trades with substantial losses over the past weeks. After peaking at around $1.70 at the beginning of May, the market retested the $1.70 resistance on the 18th of May and from there quickly dropped 60 percent to $0.64 support.
After a slight recovery to the $1.05 mark, XRP/USD reversed again and pushed lower over the last few days. Overnight XRP/USD dropped another 26 percent and found support at the $0.80 mark. From there, XRP/USD retraced to $0.90 and started to reject further upside again.
Therefore, we can expect XRP/USD to move lower over the next 24 hours and set another local low. However, a sling a the $0.64 mark is not broken, we still expect the overall Ripple price action momentum to shift to the upside next week.
Ripple Price Prediction: Conclusion
Ripple price prediction is bearish as the market rejects further downside and prepares to move lower once again. Therefore, we expect XRP/USD to set another lower low over the next 24 hours before a much more substantial reversal can be set.
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