Ripple Price Prediction: XRP Consolidates Below $0.55
Daily Ripple XRP Technical Analysis
- Ripple price has found resistance at the 20-bar SMA in the 4-hour chart.
- The MACD shows sustained bearish momentum in the 4-hour chart.
Ripple price found resistance at the $0.63 on February 14 and then dropped to $0.52, following that, it went up to $0.535. Let’s take a closer with technical analysis. The 20-day SMA has helped hold the price up.
Ripple Price Has Found Support At 20-day SMA
The drop between February 14 and 16 has pushed the RSI back inside the neutral zone from the overbought zone. Over the last two days, the 20-day SMA has ensured that Ripple price did not go below the $0.50-mark.
Image: XRP/USD daily
Looking at the 4-hour Ripple price chart, the 50-bar SMA has crossed the 20-bar SMA to form the bearish cross pattern. XRP has found hardcore resistance at the 20-bar SMA which is why it couldn’t rise any higher. Plus, the MACD shows sustained bearish market momentum, which could trigger a further Ripple price drop.
Image: XRP/USD 4-hour
Ripple Price Is Expected To Reach These Levels
Ripple price will drop to the 20-day SMA ($0.49) since the 4-hour chart shows multiple sell signals.