- Ripple price has breached a $0.28 level despite the huge price volatility over the last week
- It may soon reach $0.297 as its next resistance point
Like most of its peers, XRP coin also has put effort into growing over the last week. However, its effort doesn’t seem to have actualized, and the blame must go to the unprecedented price spikes. Ripple has added 7.89% over the last week, along with more than four major price shifts in this period.
Ripple Price Analysis
XRP’s value at the starting of February 05 was $0.2660, and over the next two days, it was up by 8.05% that added $0.0214 to the value and placed it at $0.2874. It was followed by a drop in the Ripple value to the extent of 7.40% that took the price down to $0.2663 by February 08. However, XRP started trading upwards and by February 09, it could add $0.0226 and get placed at the weekly high point of $0.2888.
Later, Ripple price again slipped from there, and after losing 7.31% value, it got placed at $0.2677 by February 11. The current price of XRP coin is hovering around $0.28, which is a decent improvement from the last two days’ price trend of Ripple.
XRP’s current value has been trading above its 50 days and 20 days moving averages by 1.34% and 0.45%, respectively. The currency may continue to experience growth in the short-term. However, it may not shield itself from the volatility in the price movement. The next resistance point for Ripple seems imminent at $0.2975.
Resistance and Support Levels
R1: $0.2846, R2: $0.2891 and R3: $0.2975
S1: $0.2717, S2: $0.2633 and S3: $0.2588