Ripple (XRP) Clings To Support As Bearish Divergence Plays Out; Will $0.44 Hold?

  • XRP’s price struggles to hold above key support as the price needs to hold above $0.44 to maintain its bullish run. 
  • XRP is still struggling as bearish divergence continues to appear on the daily timeframe, suggesting that a shift in trend may be possible. 
  • XRP prices continue to trade below 200 Exponential Moving Averages (EMA), while 50 EMA provides support for the daily timeframe. 

As the price of Ripple has seen more interest, it rallied from its weekly lowest to reach a high point of $0.52. Despite all the volatility in the crypto market, such that the price for Bitcoin (BTC), as well as other assets like Ethereum(ETH), saw a slight decline in their prices movement over the last week, Ripple’s (XRP) price showed more strength. It produced green moments of opportunity for those who traded this asset. (Data from Binance).

Weekly Chart: Ripple (XRP), Price Analysis

After winning its case, Ripple’s price dropped from $2 to $0.3 per week. This was a great move by traders and investors.

 XRP’s price rallied from the weekly low of $0.3 to a high of $0.54, showing some great price action before facing resistance to breaking above this region. A price break or close higher than $0.54 would propel XRP towards $1.

The resistance was not able to be overcome by the price of XRP, which has struggled to stay above $0.44 since then. The price of XRP could fall below $0.44 and support the XRP price.

Weekly resistance for the price of XRP – $0.54.

Weekly support for the price of XRP – $0.36.

Chart with Price Analysis for XRP Daily (D)

Daily XRP Chart | Source: XRPUSDT On

The daily price of XRP trades below the key resistance. After forming a bearish diversgence, the price fell from $0.55 to prevent it from moving higher. 

A potential trend reverser to the downside is suggested by the formation of the bearish divergence in the daily price range for XRP.

If the price XRP declines, then $0.44 will serve as support. This price corresponds to the 50 EMA.

Daily resistance for the XRP price – $0.55.

Daily support for the XRP price – $0.44-$0.38.

On-chain Analysis for XRP

Source: On| Source: On

Although XRP’s price has fallen by over half, the on-chain analysis suggests that it is still fairly stable. XRP has had a decent return on investment (ROI), of 24% in the last three months, compared with other crypto assets. 

Featured Image from zipmex, Tradingview Charts and Messari

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