Ripple XRP currently holding the 2nd position in the crypto market in terms of market capitalization. At the time of writing this article the maket capitalization of XRP as per CoinMarketCap is $13,589,819,122 USD which is more than that of Ethereum $9,860,800,485 USD.
The price of Ripple XRP at the press time is $0.333391 USD (+10.60%) while the trading pair XRP/BTC is 0.00009386 BTC (+6.42%). All the price data is from CoinMarketCap.
Yesterday XRP was trading around $0.29 and today it has gone up high at $0.35 and currently at $0.33 USD. Now it seems that the price will make a resistance around $0.33 USD.
Ripple XRP/USD Price Analysis
Let’s have a look at the price analysis based on the Moving averages and Oscillators. After looking at the daily Moving Averages the Exponential Moving Average (5) and Simple Moving Average (5) are 0.32184 and 0.31177 respectively. Here both the EMA (5) and SMA (5) are in the buy zone. Also, the daily EMA (10, 20) and SMA (10, 20) are in the buying zone.
Now let’s have a look at the Oscillators, the daily Relative Strength Index (14) is 48.19712 and is in the neutral zone. Also the daily Stochastic %K (14, 3, 3), Average Directional Index (14) and Ultimate Oscillator (7, 14, 28) are in the neutral zone.
The only Oscillators which is in the buy zone is MACD Level (12, 26) having a value of -0.02656
Also, while looking at the hourly moving averages all the EMA (5, 10, 20, 30, 50, 100, 200) and SMA (5, 10, 20, 30, 50, 100, 200) are in the strong buy zone. But the Ichimoku Cloud Base Line (9, 26, 52, 26) is in the neutral zone. While looking at the Oscillators most of them are in the sell zone.
After looking at the price analysis based on the daily and hourly Moving averages and Oscillators it can be concluded that Ripple XRP will make a strong resistance at around $0.33 USD. A slight drop in price might be seen if the price resist at $0.33 for a longer time.
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.