TL;DR Breakdown
- Ripple price analysis is bearish today.
- XRP/USD pair is trading at $0.79.
- XRP/USD spiked higher to $0.85.
Ripple price analysis is bearish today, as we saw a strong rise to $0.85 resistance late yesterday and consolidation since then. As a result, we expect XRP/USD to fall further, possibly retesting the $0.70 support level early next week.
Ripple price analysis shows that XRP/USD is bearish today following yesterday’s spike higher, which saw the pair rise from the $0.76 support level to a high of $0.85 resistance late yesterday afternoon. The fall from this resistance level has been sharp, with XRP/USD falling to a low of $0.77 today, the downside being exacerbated by a further 5% decline in Bitcoin price, which is weighing on altcoins generally at the moment.
Ripple price analysis shows that we are likely to fall further next week and could even retest the $0.70 support level. However, we may see a minor uptrend today as Bitcoin price started to rise early this morning which could push the XRP/USD pair back above $0.80. We may even see a retest of $0.85 resistance level but will fall short and consolidate at that level again before testing the lows below $0.70.
Ripple price analysis shows that XRP/USD is bearish today following yesterday’s spike higher. We are likely to see further declines next week as XRP/USD follows the general trend of most cryptocurrencies at the moment.
XRP/USD 4-hour chart: XRP looks to test more downside?
The 4-hour price analysis chart above shows that we are testing the $0.80 resistance level and may even push past it following the recent rise of Bitcoin price this morning. However, we may consolidate at these levels before lowering towards the next support level around $0.70.
The 4-hour price analysis chart above shows that the resistance at $0.85 has been tested twice within the last 24 hours, with XRP/USD falling back after its initial attempt to break past this level. We may see a minor rise today if Bitcoin price continues to rise but are likely to fall again to retest the $0.80 support level before continuing lower to the next support around $0.70, with XRP/USD following the general market trend at the moment.
Ripple price analysis is bearish today, with XRP/USD trading at $0.78 and seeing more downward pressure following yesterday’s spike higher to $0.85 resistance. We are likely to see XRP/USD fall further over the next week, possibly retesting the $0.70 support level early next week before continuing lower to around $0.50 before any upward momentum begins.
The MACD shows a small initial surge in price following Bitcoin’s early morning rise before XRP/USD falls again. The pair is currently in negative territory, and we expect to see further declines over the coming days.
The RSI is currently at around 40, indicating that XRP/USD may see a small rise today if Bitcoin price continues to climb early this morning. However, we are likely to fall again very quickly as the cryptocurrency market slowly sees further declines over the next few weeks before any signs of recovery begin.
Ripple price analysis: Conclusion
Ripple price analysis is bearish today, but we may see a strong retest of $0.85 resistance level early this morning as Bitcoin price rose again. However, we are likely to fall further next week and could even test $0.70 before the end of September if XRP/USD follows the recent trend of altcoins.
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