Ripple (XRP) Price Analysis (February 27)


Key Highlights

  • XRP's price valuation trades in a rally moving mode from a low line at $0.22 mark.
  • The XRP/USD market bulls are not strong in exerting much-needed forces.
  • There may be an occurrence of a series of range price movements soon around the $0.24 mark.

Ripple (XRP) Price Analysis

  • Major resistance levels: $0.28, $0.30, $0.32
  • Major support levels: $0.20, $0.18, $0.16

The bearish pressures in the XRP trade appeared to have partially exhausted while it touched a low value at $0.22 on February 26, during the last trading hour. The currency pair now moves in a rally from the spot earlier mentioned to trade around $0.24 mark.

The XRP/USD buyers are weak in their forces to push beyond a $0.24 price level at present. The XRP/USD sellers may regain their positions at the touch of $0.26 if resistance occurs.

Ripple Technical Indicators Reading

There has been a notable recovery moving bid in the XRP/USD market operations. The two trading SMAs are separated with space as the 14-day SMA trending indicator is underneath the 50-day SMA trend-line. Price has slightly rallied northward to trade around the smaller SMA at $0.24. Yet, the bigger SMA points towards the south direction to indicate that the crypto-market is still under pressure. The Stochastic Oscillators have crossed the hairs from the oversold region to briefly point north-east. That suggests that a series of range price movements may occur in a near time of the crypto.

Conclusion

The XRP/USD market seemingly appears to have commenced a recovery trading mote while it couldn’t break down a low point at a $0.22 mark. All in all, the XRP/USD bulls will have to increase their efforts to gain the market over the bears. At this point, fluctuations of price around the 14-day SMA trading indicator may lead to bringing down the market value to retest its previous low spot at the $0.24 line.

 

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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