After weeks of expected correction, Ripple continues to follow a sideway trend with little volatility. But due to the latest calm in Bitcoin’s price, XRP has managed to drop a bit, amounting to a 3.42% decrease overnight.
Last week, Ripple witnessed a dramatic increase near $0.42, but the price dropped after it failed to sustain positive momentum. The halt in buying pressure caused a false breakout as the price fell back inside a range.
The price actions moved from little-to-no volatility over the past couple of days, and as a result of that, the market remained indecisive.
Just a few hours after the bears entered the market today, the price saw a 2dropped to two-week support of $0.373. However, it has continued to trade between the range of $0.32 and $0.41 since the past month’s crash.
The 5% loss in the past week has made the bears regain control. XRP is preparing for more drops at the moment. It is expected to roll back to $0.32 once the price plunges beneath the mentioned support.
For now, there’s nothing much to expect from the market until the price breaks away from these range levels. XRP will continue to maintain a sideway trend as long as the price remains inside this range.
Ripple Price Analysis (XRPUSDT): 4-Hour Chart
Ripple has shown signs of weakness over the past hours, and due to this, it may witness a negative action this week.
Below the $0.373 level, there’s support at $0.35 along the way before dropping to $0.32. If the market dips beneath this level, the $0.3 and $0.27 levels would be the next sell target.
There’s a key resistance level at $0.406. The resistance to watch above this mentioned level is $0.444. If the price continues to increase, the next resistance level is located at $0.487.
Key Resistance Levels: $0.406, $0.44, $0.487
Key Support Levels: $0.374, $0.36, $0.32
- Spot Price: $0.374
- Trend: Neutral
- Volatility: Moderate
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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