XRP Price Analysis: XRP Crypto Price Is Looking To Recover Its Lost Ground

  • XRP coin price is currently seeing an upside correction after a fall to $0.55. The price might see a strong paced recovery in the future.
  • Technical indicators of XRP suggest a consolidated momentum with a hint of upside trend. Meanwhile XRP/BTC pair is observing a loss of 2% in the intraday session

XRP crypto price is currently gaining momentum for upside and can soon cross the barrier of $0.8. It is currently trading near the value of $0.6 and is seeing a gain of 2% in the intraday session. XRP is one of the fastest and scalable monetary platforms  present in the market. XRP is maintained  and driven by its community .  The coin has a ROI of more than 27101% which is more than their competitors present in the market.  XRP/BTC pair is in a consolidated momentum but can soon see an uptrend in the future. One should wait  for the XRP coin price to give a positive breakout before investing.

XRP token is ranked 6th in the CMC according to its market capitalization and has a market dominance of more than 2%..The volume of the XRP has observed a decrease of 20% in the last 24 hours. The volume to market cap ratio of the coin is near  0.0557 suggesting a consolidated momentum in the price . If the ratio of the coin jumps above 0.8 then a strong upside momentum can be seen.

Technical Indicators Hints At The Upside Correction In XRP Crypto Price

Source: Trading view

XRP weekly technical chart highlights that the price may observe a downtrend in the upcoming weeks . On the daily chart, the asset price is showing signs of positive breakout . The price of XRP  is trading  below 50 and 100 Daily Moving Average, and has seen a negative crossover in the past. The 50MA line is near $0.739, making it a temporary hostile region  for the price. XRP price resistance while going upwards can be observed near $1. The support region in the price while going down can be found near $0.4.  XRP has formed a strong accumulation zone on the daily chart. If the price of the coin  goes 15%  above the accumulation zone , then a strong upside momentum can be seen .XRP/BTC pair can also give a breakout from its previous resistance created in the past.

Conclusion

XRP crypto price is trying to recover from the downtrend and see an upside momentum. It can also break down below the $0.5 if the market behaves otherwise.

Technical Levels

Major Resistance:$1

Major Support: $0.4

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