Ripple Price Analysis: XRP Keeps Up Crucial $0.40 Level, But Situation Looks Very Fragile

Ripple’s XRP has seen a 5.77% price decline over the past 24 hours, bringing its current trading price down to around $0.4152. The cryptocurrency has travelled as low as $0.39 over the past 24 hours but has remained resilient in breaking back above support at $0.41.

XRP remains ranked in 3rd place as it currently holds a $17.45 billion market cap valuation, according to CoinMarketCap data at press time. The asset has now seen a 37% price surge over the past 30 days, with a Golden Crossover signal occurring in May 2019.

Looking at the XRP/USD 1-Day Chart:

  • Since our previous XRP/USD analysis, we can see that although price action has dipped beneath $0.40, the crypto asset has remained resilient in battling to remain above the $0.40 level.
  • From above: The nearest level of resistance now lies at $0.4235. Above this, further resistance exists at $0.4376, as well as between $0.4580 and $0.4620. If the bulls can continue above $0.47, further resistance then lies at $0.48 and $0.50.
  • From below: The nearest level of support now sits at $0.40. Beneath this, further support can be found at $0.39, $0.38 and $0.37 (which also contains the 200-day EMA). Beneath $0.37, further support exists at $0.3610 and $0.35.
  • Trading volume increased during the recent round of selling.
  • The RSI has recently dipped beneath the 50 level, which suggests the bears are in control of market momentum.

Looking at the XRP/BTC 1-Day Chart:

  • Against Bitcoin, we can see XRP has managed to remain strong above the 5000 SAT support level. XRP/BTC has now traveled higher and trades close to the 5200 SAT level.
  • From above: The nearest level of resistance above 5200 SAT exists at 5300 SAT and 5570 SAT. Above this, further resistance can be located at 5960 SAT, 6210 SAT and 6500 SAT.
  • From below: The nearest level of support now lies at 5100 SAT and 5000 SAT. Beneath 5000 SAT, further support sits at 4730 SAT, 4480 SAT and 4300 SAT.
  • The RSI recently broke above the 50 level, which indicates the bulls are in control of market momentum, a very rare occurrence during 2019.

The post Ripple Price Analysis: XRP Keeps Up Crucial $0.40 Level, But Situation Looks Very Fragile appeared first on CryptoPotato.

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