cryptopolitan.com
- Ripple price analysis is bearish today.
- XRP/USD has found resistance at $0.85 previous support.
- Rejection was lower seen over the second half of the day.
Ripple price analysis is bearish today as we have seen another lower high set at $0.85 after a massive spike lower on the 31st of March. Therefore, XRP/USD is likely headed for another push lower towards the $0.80 mark.
The rejection lower over the second half of the day saw XRP/USD drop from $0.84 to a low of $0.81 before finding some buying interest. The market has since recovered slightly to trade at $0.82, but this is still well below the highs set on the 31st. If we see a break below the $0.81 low, we could see XRP/USD move down to test the $0.79 support level.
On the bullish side, if XRP/USD can break above the $0.85 resistance level, it could be on its way back up to retest the $0.90 mark.
Ripple price analysis is bearish today as we have seen another lower high set at $0.85 after a massive spike lower on the 31st of March. Therefore, XRP/USD is likely headed for another push lower towards the $0.80 mark.
The rejection lower over the second half of the day saw XRP/USD drop from $0.84
Ripple price movement in the last 24 hours: Ripple recovers its previous loss to $0.85
XRP/USD traded in $0.8232 – $0.8486, indicating substantial volatility over the last 24 hours. Trading volume has declined by 28.29 percent, totaling $1.614 billion, while the total market cap trades around $40.23 billion, ranking the coin in 8th place overall.
XRP/USD 4-hour chart: XRP ready to continue lower?
On the 4-hour chart, we can see the Ripple price action looking to decline again as strong resistance was found at $0.85 and descending trendline.
This week, ripple price action has reached a new local high at $0.91. The following retracement established a clear higher low at $0.85, where consolidation was formed during the middle of the week.
However, further upside did not follow. XRP/USD saw a very sharp spike lower to $0.78 on the 31st of March, indicating weakness in the overall medium-term market structure.
Since then, some of the loss was regained, leading to $0.85 previous support being retested as resistance. Additionally, a descending trendline has been formed, indicating that another move lower will follow unless a break higher is seen later today.
Overall, the current Ripple price action development indicates more downside to follow over the weekend and likely early next week. If a higher low can be set, XRP/USD still has a chance to recover. Otherwise, a lot more downside could follow over April.
Ripple price analysis: Conclusion
Ripple price analysis is bearish today as we have seen a steady retracement to $0.85, where rejection was seen earlier today. Therefore, XRP/USD is likely ready to push lower again and attempt to set a higher low.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.