Price Analysis

Amid the Possibilities of a Bearish Breakdown below $0.2, XRP Price Develops Possibilities of Hitting $0.5

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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May 20, 2022

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Highlights

    XRP price is closely hovering along minor ranges, speculating a price action on either sides

    Yet the current bearish pressure is the matter of concern that may extend the consolidation and postponing a bullish price action

Ripple (XRP) Price Analysis

Ripple price after the recent market slash is swinging within very narrow regions pointing out towards a prolonged accumulation phase. However, the wave accumulation may continue ranging above and below the current pivot levels. And once the market conditions stabilize a significant upswing may compel the price to form higher highs and lows ahead. 

xrpprice

The XRP price could swing in between $0.43 and $0.39 for some more time ahead, maybe until the weekend. However, the coming weekend may turn the tables for the crypto space as it does each time. Therefore, if the price undergoes a significant upswing then it may begin the weekly trade above $0.45 and could also reach $0.5 levels quickly. Else may continue to hover along with the same levels. 

Also Read: Shiba INU(SHIB) & Dogecoin (DOGE) Prices both Aim at a 25% Recovery this Week!

Ripple (XRP) Technical Analysis

Technical Indicators

IndicatorValue(1Hr / 1D)Action(1Hr / 1D)
Relative Strength Index(RSI)31.87 / 32.15Sell / Sell
MACD-0.001 / -0.072Sell / Sell
Average Directional Index (ADX)44.49 / 49.17Sell / Sell
Average True Range (ATR)0.0062 / 0.057High Volatility / High Volatility

Pivot Levels

Pivot LevelsShort-TermLong-Term
Moving Average (MA) -50$0.416$0.64
Moving Average (MA) – 200$0.421$0.79
Resistance$0.48$0.55
Support $0.37$0.33

Also Read: Massive Ethereum Plunge on the Horizon, ETH Price to Hit $1520 Next Week!

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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