Ripple Price Prediction: XRP Fails To Cross Over The 20-day SMA

Daily Ripple XRP Technical Analysis

Last Updated July 23rd 2021
3 Min Read
  • The buyers and sellers are canceling each other out in the Ripple price daily chart.
  • The price volatility in the daily chart is decreasing consistently.
  • The Ripple price bounced up from the $0.545 support wall on June 23 and managed to rise up to $0.706 till June 30. As you can see, the 200-day SMA has provided constant resistance to XRP, which has prevented Ripple from going up any further. However, the $0.545 support barrier has enabled to buyers to launch a fightback.

    Ripple Price Fails To Cross Over Crucial Level

    On June 30, the Ripple price charted a bearish cross as XRP promptly dropped from $0.702 to $0.65 on July 1 and July 2. Following that the buyers managed to push Ripple to $0.688 on July 4. However, strong resistance at the 20-day SMA dropped XRP back to $0.675. The relative strength index (RSI) tells us that the buyers and sellers have effectively canceled each other out. The Bollinger Band has started narrowing to show decreasing price volatility.

    Image: XRP/USD daily

    XRP/USD daily chart 070621

    In the 4-hour time frame, the Ripple price was trending horizontally around $0.70 before dropping to $0.675. The confluence of the 20-bar and 50-bar SMAs on the downside has prevented a further downtrend. The MACD is on the verge of flipping from bullish to bearish. The parabolic SAR tells us that the overall market sentiment is negative.

    Image: XRP/USD 4-hour

    XRP/USD 4-hour chart 070621

    Ripple to integrate carbon neutral NFTs through Mintable

    Mintable NFT minting platform has raised $13 million through a recent oversubscribed funding round. The Series A funding round for the Singapore-based startup included some popular participants, including Ripple, blockchain gaming developer Animoca Brands, and Metapurse, the world’s largest NFT investment fund.

    Ripple announced that Mintable plans to integrate the firm’s blockchain, XRP Ledger (XRPL), which it says is already carbon neutral and is “ideally suited to deliver a seamless experience for NFTs”.

    "Its environmentally friendly attributes will allow billions of NFTs to be minted, bought and transferred on the XRPL in a sustainable way."

    Mintable, an Ethereum-based platform, is among several crypto-related investments in Dallas Mavericks owner Mark Cuban’s portfolio. The billionaire investor previously participated in Mintable’s $2.5 million seed round in March.

    The platform, which was launched in 2018, has minted more than 700,000 items over the past year, enabling the establishment of a growing catalog of unique items, such as digital art, music, collectibles, and gaming items.

    Mintable has sold and auctioned works by various popular artists and high-profile artists, celebrities, and sports professionals and implemented a unique gas-free minting feature that allows users to create their NFTs without being burdened by high network fees.

    In an earlier announcement, Mintable stated that it would use the funds to focus on scaling its operations and boosting its growth and user acquisition initiatives.

    General Manager of RippleX at Ripple, Monica Long, stated it had invested in Mintable due to a shared vision for cost-efficient and sustainable NFTs:

    “Accelerating the growth of this creator economy starts with an infrastructure that removes the barriers to entry - such as high gas fees and environmental costs of creating NFTs - faced by many today.”

    Ripple Price Is Expected To Reach These Levels

    Ever since the beginning of June 2021, the Ripple price has been constantly blocked by the 20-day SMA. If the buyers don’t have enough momentum to do so, XRP will fall to the $0.5435 support.

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.