Ripple [XRP] price analysis, will move down to $0.43 – Here’s Why
Ripple [XRP] which is at present the 3rd largest cryptocurrency by market capitalization as per CoinMarketCap. XRP is currently trading at $0.479218 USD (-0.43%). As you know the price has fallen from $0.61 before the beginning of Ripple Swell event to just $0.47.
Ripple is currently trading in a bearish zone against Bitcoin and US dollar i.e. XRP/BTC and XRP/USD trading pair. The volume of Ripple has declined to almost 50% over the previous 4-5 days. The price has also fallen about 16% over the last week.
Ripple Price Prediction and Technical Analysis
According to our analysis, there is a big probability that the price of Ripple XRP will move down to $0.43. The reason behind this is the XRP moving down and volume is also decreasing. It seems that big players did not want to hold the price.
Ripple seems to be struck at the price below $0.49 from last few days. However, it still supports the daily EMA (50) and SMA (50).
The daily EMA (10) and SMA (10) for XRP is 0.50490 and 0.52031 respectively. Here both the data are in the sell zone. While moving to the oscillators the daily MACD Level (12, 27) is 0.02974 and is indicating a sell signal.
Also, let’s have a look at the hourly Exponential Moving Average (10) and Simple Moving Average (10). The hourly EMA (10) and SMA (10) is 0.48648 and 0.48634 respectively. Here also the hourly EMA (10) and SMA (10) is towards a sell signal.
While looking at the oscillators the hourly MACD Level (12, 27) and Momentum (10) is towards sell signal. It seems that on the basis of technical details there is a chance of a massive bear run.
Even when we look at the hourly EMA (10, 20, 30, 50, 100, 200) and SMA (10, 20, 30, 50, 100, 200) all are in a massive sell zone. Not only this almost all the oscillators are also in the sell zone.
This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.