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.
TRON is now available on SWFT a one-stop, cross-chain wallet app
LINE Acquires GrayHash to Enhance Fintech Security
Brave Browser is the default Web Browser for HTC Exodus Blockchain Smartphone
Here’s why Singapore Blockchain Week kick-started with a first-time conference UCIM
TRON is now on Blockfolio Signal Beta, a Crypto Portfolio Management App
Ripple supporters raged over Craig Wright’s remarks on Ripple [XRP]
TRON [TRX] is shattering all records, growing in Gaming dApps transaction volume
TRON among the first 100 crypto projects under Binance Info Gold Label Project
Swiss Exchange to list world’s first crypto exchange traded product (ETP)
BCHABC will officially hold Bitcoin Cash [BCH] ticker symbol, BCHSV to remain split
Altcoins News6 months ago
Privacy vs. Transparency: US Secret Service go after Monero and Zcash
Altcoins News5 months ago
Now it’s Official BitTorrent is Now a Part of TRON [TRX]
Cryptocurrency News1 month ago
Crypto Scammers pretends to be Elon Musk, gets away with $175K today
Cryptocurrency News1 month ago
Canadian VersaBank to launch blockchain-based digital safety deposit box