At the time of writing this article, Ripple XRP is trading at $0.4425, a major retracement from previous days highs of $0.5000 levels. XRP price had a significant sell-off and retraced towards the critical support zone $0.42 to $0.45 where it found some buyers. Until XRP holds $0.42 support level it will be trading in a wide range $0.4350-$0.4750 area due to high volume. In case of a major breakout above $0.4750 with big volumes, we can see $0.4950-$0.50 price levels easily.
Ripple XRP News
Craig Wright is not a well-respected figure in the crypto and blockchain circle. Furthermore, he also doesn’t seem much interested in making friends and remains controversial at large. In a controversial statement, he tweeted that XRP is just “another illegal unregistered security platform”. Furthermore, he also tweeted about how the renowned cryptocurrency, Ethereum [ETH] has lost its use-cases. He urged that Securities and Exchange Commission (SEC) should take down the cryptocurrencies.
Ripple XRP/USD Price Analysis
Based on the XRP/USD daily chart, the price is just below the important level of 55Day EMA and below 200DMA. After a significant drop from the higher levels, MACD is just on the Signal Line and RSI is now at 41.
This indicates neutral to slightly positive bias, Daily volumes are above $1.1b which is slightly encouraging.
Prediction (Short to Medium term):-
As long as the Ripple Price holds $0.4350 and breaks above $0.4650, we can expect a quick rally towards $0.49 Area….on the contrary, we can see the price drop towards critical support area of $0.42
Credits:- Srinivas Podila
This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency.