TL;DR Breakdown
- Ripple price analysis is bearish today.
- XRP/USD found resistance at $0.85 yesterday.
- Bearish momentum has slowly returned overnight.
Ripple price analysis is bearish today as resistance was found at $0.85, leading to a slow reversal back to the downside overnight. Therefore, we can expect another test of downside later today, with the current low at $0.785
The cryptocurrency market has seen mixed results over the last 24 hours. The market leader, Bitcoin has increased by 0.81 percent, while Ethereum has lost 0.75 percent. Meanwhile, Ripple has lost 2.7 percent.
Ripple price movement in the last 24 hours: Ripple rallies and holds below $0.85
XRP/USD traded in a range of $0.8112 – $0.8443, indicating mild volatility over the last 24 hours. Trading volume has declined by 44.78 percent, totaling $1.59 billion. Meanwhile, the total market cap trades around $38.65 billion, ranking the coin in 8th place overall.
XRP/USD 4-hour chart: XRP looks to test downside again?
On the 4-hour chart, we can see bearish momentum slowly taking over this morning the Ripple price action, likely leading to another push lower later today.
Ripple price has seen bearish momentum return over the second half of the week. After previously advancing above the previous resistance at $0.85, a new higher high was set around $0.93.
However, from there, XRP/USD quickly reversed, starting to reclaim previous gain. By Friday, XRP had reached the $0.785 mark, where the current low can be seen.
Yesterday, the Ripple price saw a slight upsurge, with the $0.85 resistance preventing further upside for now. Overnight, XRP/USD consolidated below the newly found resistance, indicating that we are likely to see bearish momentum return over the next 24 hours.
Ripple Price Analysis: ConclusionÂ
Ripple price analysis is bearish today as we saw the $0.85 mark prevent further upside overnight. Therefore, XRP/USD is headed lower again, with another lower low likely to be set.
While waiting for Ripple to move further, see our articles on Pi Wallet, Electrum Wallet, and Celsius Wallet.
