TL;DR Breakdown XRP moved to $1.27 yesterday. XRP/USD moves lower over the past hours. Closets support at $1. Today’s Ripple price prediction is bearish as the market peaked below the $1.30 mark yesterday and started trending lower overnight. Therefore, we can expect XRP/USD to move to retest the $1 mark over the next 24 hours. … Read more
- XRP moved to $1.27 yesterday.
- XRP/USD moves lower over the past hours.
- Closets support at $1.
Today’s Ripple price prediction is bearish as the market peaked below the $1.30 mark yesterday and started trending lower overnight. Therefore, we can expect XRP/USD to move to retest the $1 mark over the next 24 hours.
The overall market trades with mixed results as both Bitcoin and Ripple have remained neutral over the last 24 hours. From the major altcoin, Monero is among the best performers as it is up by 21.8 percent.
XRP/USD opened at $1.18 today after a bullish rally to the $1.30 mark yesterday. Since the Ripple price action rejected further upside around $1.27 and started retracing overnight, we expect the market to move lower over the next 24 hours. The first major support is seen at the $1 mark, where XRP/USD should set a higher low.
Ripple price movement in the last 24 hours
The XRP/USD price moved in a range of $1.10 – $1.27, indicating a good amount of volatility over the last 24 hours. Trading volume has decreased by 51.4 percent and totals $10.3 billion. Meanwhile, the total market cap stands at $51.26 billion, ranking the cryptocurrency in 6th place overall.
XRP/USD 4-hour chart – XRP moves lower overnight
On the 4-hour chart, we can see the market moving lower over the past hours as a new higher low will be formed over the weekend.
The overall market price action still continues struggling to regain bullish momentum. After a new all-time high was set around $1.95 on the 14th of April. Ripple retraced by more than 50 percent until support was found at the $1 mark.
From there, XRP/USD trades around the $1.50 mark in a relatively wide range over the first half of May. After another failed attempt to move above the $1.70, the Ripple price spiked lower until the $1 support was briefly broken again on the 19th of May.
Yesterday, we saw XRP/USD move higher to the $1.20-$1.25 mark, where resistance was found. Overnight, Ripple started to retraced away from the $1.20 resistance as bears attempt to move the market towards the $1 mark once again.
If XRP/USD can hold this support level, we expect the market to set a higher low, from which another push higher will be seen next week. This should lead to a much serious market recovery over the next weeks as bulls still target the $170 resistance.
Ripple Price Prediction: Conclusion
Ripple price prediction is bearish as bears have regained control and pushed the market lower over the past hours. Therefore, we can expect XRP/USD to move lower later today and set a higher low over the weekend, from which to push higher next week.
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