With Bitcoin and altcoins going bearish, traders are looking out for different options. One such altcoin is Ripple‘s XRP. XRP price at the moment is bleeding red. At the time of writing, SRP is in the 3rd position as per market capitalization.
The XRP is trading at $0.213530 USD with a drop of 2.55%. The 24hr volume is $1,232,432,314 USD with Circulating Supply of 43,310,265,523 XRP. Even the XRP/BTC price is trading lower by 1.7% at 0.00003010 BTC.
XRP One-Day Analysis:
The one-day chart shows a minor plunge in the morning session of the UTC timezone. The XRP price fell down from $0.26 to $0.23 against USD. However, XRP against BTC has seen a steady decline.
XRP Technical Analysis:
Looking at the Tradingview data, SRP seems to be in a bearish trend. The price has been moving within a narrow range, either bearish or bullish since falling from mid-late November.
- RSI Indicator: The 4hr trading analysis chart shows the price nearing 30-level once again. The price will continue in the bearish trend as per the chart.
- MACD Indicator: the 4hr MACD chart shows XRP price to increase in the bearish region since yesterday.
XRP May See 50% Bounce in Coming Months
However, the RSI and MACD chart is good for ripple price in the coming days claims a cryptocurrency analyst Calmly. As per his tweet, Ripple may move 50% in the coming days.
Furthermore, another analyst Senor Satoshi claims that XRP is in an ascending triangle. The XRP price may surge by 12.5% if it breaks the boundary.
What do you feel about this XRP price analysis? Is XRP ready to break out or continue its bearish trend? Let us know your views on Facebook and Twitter pages.
The post appeared first on Coinpedia
