The crypto market seems again under a tight grip of bears, as most of the altcoins are struggling for a price recovery after yesterday’s price drop. While Ripple is approaching support near $0.25, Bitcoin is oscillating between $10,300 and $10,439.
Ripple price was a bit bullish in the initial part of yesterday. The bulls pushed the coin till it touched $0.2590 price point. Then the coin took a nosedive and saw bottom at $0.2493. XRP uplifted slightly before closing at $0.2523.
Today, the coin opened near $0.2517, and it even had a close at $0.2510. At 11:57:50 UTC, XRP price is trading at $0.2526.
XRP/USD Price Chart
The 4-hourly chart of Ripple can give investors a sigh of relief as it shows an uptrend. After tracing an impulse pattern, the coin has seen a surge of 0.51%. XRP is continuing the increase from there and is at $0.2528 at 12:00:34 UTC.
4-Hourly Chart of Ripple
The intraday chart shows a substantial gap between the long term SMA line and the Short term SMA line, where the long term SMA is on the upside. This shows how the coin is far from stepping out of the bearish impact.
RSI indicates an upcoming overbought phase as it is moving above 60. MACD chart just had a bullish crossover in the bullish zone. XRP, if it crosses above $0.2574, may face resistance at $0.2626 and $0.2659. While, on the downside, its support levels can be at $0.2489, $0.2456 and $0.2404.
