Ripple has followed the overall market condition and went through a price correction of 5.71%. Its current value roams around $0.1486 after falling from $0.1576 over the last 24 hours. As per the current trend, there may not be any quick turnaround of the situation, and the next halting point seems likely at $0.1461.
XRP Faces Bearish Pressure Below MAs
In the last week, Ripple faced moderate volatility at the beginning of the week, and it was trading just below $0.16, and then, it spotted recovery. Around March 20, XRP price reached above $0.17 but then started trading downwards. Yesterday, the price was being traded at $0.1576 at the starting of the day.
In the next 6 hours, XRP traded upside marginally, and the price touched $0.1617 by 2.60% hike. Then, it was followed by an 8.23% drop in the value that pulled the Ripple price down to $0.1483 by 20:01 UTC. The next swing happened between 21:49 & 01:36 UTC. Over these 3 hours and 47 minutes, XRP coin faced another price correction of 3.31% that took the price to $0.1491.
At the time of writing this XRP price analysis, the currency was trading around $0.1486, and it was trending below its 50 & 90-day moving averages. Ripple’s next halting point may come by the support point of $0.146188. Investors shouldn’t expect any unprecedented moves by the coin in the short-term. Its RSI figure stands at 37.97 points. As per XRP Prediction, XRP coin may test its next support $0.1421, and if it continues to trade under the bearish impact, the price may trade even below it and touch the major support $0.1347.
Resistance and Support Levels
R1: $0.1576, R2: $0.1651 and R3: $0.1691
S1: $0.1461, S2: $0.1421 and S3: $0.1347
