Ripple (XRP) Price Analysis (February 24)


Key Highlights

  • XRP/USD market now trades sideways around a $0.28 mark.
  • Trading indicators signal that the XRP/USD market still somewhat under declining moves.
  • A strong rebound expected, while sudden dip occurs around the $0.24 major support level.

Ripple (XRP) Price Analysis

  • Major resistance levels: $0.30, $0.32, $0.34
  • Major support levels: $0.24, $0.22, $0.20

The XRP’s market has remained dominated by differential lower lows since it couldn’t move past $0.30 price level over time. The crypto market, majorly resisted by the US dollar to now fluctuates around $0.28 price point.

From the view of point, the downward pressures in the market also have less-active strength hence the reason for averaging a low value at $0.26. Being as it is, a downward break of the $0.26 price point remains the vital line that could allow the crypto’s value drop to locate support between the levels of $0.24 and $0.20 marks.

Ripple (XRP) Technical Indicators Reading

There have several attempts being made by the XRP/USD bears to push southward beyond the $0.26 line. The 50-day SMA trend-line is tightly over the current trading level of the pair. The 14-day SMA trading indicator is underneath the bigger SMA at a close point. A market point at $0.28 appears as the current upper range line. And, it indicates that it will be instrumental in determining the XRP/USD price upsurge.

Conclusion

The XRP market will continue with the current oscillating mode provided that a $0.26 mark remains unbroken downward, and the 50-day SMA trend-line stays over the trading level of the market. However, there are underlining indications to suggest a strong rebound in this crypto trade, especially while sudden dips occur around the $0.24 major support level.

 

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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