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Ripple News

Ripple (XRP) Initiates Price Recovery After Yesterday’s Plunge

Ripple (XRP) News

Ripple price marked a regressive movement over the past two days, but today, it has reversed the price trend. The upcoming hours of the day would help the traders recover from the losses they incurred while trading yesterday. The momentum of the currency is quite impressive. The slow and steady upside movement has brought the XRP price to $0.192.

Ripple Price Analysis

From the past two days, the XRP coin was trading under moderate bearish pressure, and yesterday, it marked a steep fall after facing rejection at a $0.198 mark. If we look at the price trend of XRP/USD over the past 24 hours, yesterday, Ripple started the day at $0.198, but in the next 5 hours, it experienced a massive plunge, which took the price to $0.190 at 05:50 UTC. Then, it continued to trade downwards with a slight spike at $0.1934. The coin price fell to $0.186 by 3.57% decline at 09:39 UTC.

Ripple (XRP) Price News

Further, the XRP coin continued the regressive momentum and fell to $0.182. After hitting this low, the currency reflected a steep hike, and the price touched $0.189 by 3.86%. With a marginal plunge, the Ripple price escalated to $0.190, but then it faced a slight decline, and it fell to $0.187 at 22:26 UTC. The intraday movement reflected a 5.31% plunge in the XRP price.

Today, the coin started upside movement, and it took 4 hours to reach $0.192 by 2.12% hike. After hovering at the same level for a while, the price dribbled to $0.190 at the time of writing this analysis. Ripple currency holds strong support from its short-term daily MAs, namely, 20-day & 50-day. And the MACD indicator shows bullish crossover. The current price of the coin is inclined towards the immediate resistance level at $0.196. However, if the XRP coin experiences pullback pressure, then it might drop to the immediate support level at $0.181.   

Maureen Varela
About author

Maureen Varela has completed her graduation from york university. She is a senior researcher at ripplenews.info. She is very humble and good leader according to her team members.
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