Ripple cryptocurrency has started the week on a strengthening foot and breached its second resistance point as predicted last week. During the previous 24 hours, it has been stretched by a whopping 5.80%, and XRP price currently trades around $0.2550.
Ripple Price Analysis
XRP coin price was at $0.2410 at the starting of the day when it started losing value. In the initial 4 hours, the currency went through a downward slope to lose 2.03% and got placed at $0.2361, the lowest point of the day. It was followed by a huge hike of 10.76% that added $0.0254 in the value and pushed Ripple price to the ace point of the day at $0.2614 by 12:19 UTC. However, it could not retain the value at this high for long and started trading downwards from there. XRP’s price against USD slipped to $0.2494 by 00:08 UTC today.
At the time of writing this analysis, the XRP price was trading at $0.2550. It was already trading above both of its daily MAs i.e., 50 days MA ($0.2545) and 20 days MA ($0.2549). Ripple cryptocurrency seems to continue this overall bullish trend for the next few days as well. However, it started correcting downwards and hence, it may trade around $0.25 for the next few hours. As per XRP Predictions, investors should be cautious of any sudden price changes on the intraday level.
Resistance and Support Levels
R1: $0.26099, R2: $0.27125 and R3: $0.2832
S1: $0.23873, S2: $0.22674 and S3: $0.21648