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Ripple Price Prediction: XRP Trends Horizontally After $0.49 Rejection

2 Min Read
Last Updated March 27th 2021

Daily Ripple XRP Technical Analysis

  • Ripple price is consolidating below the $0.39 level.
  • The MACD shows sustained bearish market momentum.

This Monday, the Ripple price reached an intraday high of $0.77 before dropping down to $0.37. Since then, XRP has been consolidating below the $0.39 price level. Let’s take a closer look with technical analysis.

 

Ripple Price Consolidates Below $0.39

After facing rejection at the $0.49 resistance barrier, the Ripple price has been consolidating below the $0.39 level. XRP currently has healthy support at $0.39, which sees a confluence of the 20-day, 50-day, and 200-day SMAs.

xrp/usd daily chart 020321

Image: XRP/USD daily

Three signs in the 4-hour Ripple price chart shows negative market sentiment.

xrp/usd 4-hour chart 020321

Image: XRP/USD 4hour

  1. The 20-bar SMA has been flipped from support to resistance.
  2. The MACD shows sustained bearish momentum.
  3. The parabolic SAR has been reversed from bullish to bearish.

 

PrimeXBT And Coincheck Delists XRP

Ripple’s native token XRP was recently suspended from two popular crypto exchanges - PrimeXBT and Coincheck. The latter took to Twitter to announce that it would be halting XRP sales. Fortunately for traders, the announcement was temporary. The exchange resumed trading a few minutes later.

However, this was not the case with PrimeXBT. The exchange appears to be following the footsteps of several other high-profile exchanges. It will delist XRP pairs from 10 February. The delisting includes both BTC and USDT pairs. 

“Following recent events surrounding #Ripple ($XRP) as well as the delisting of the asset across our multiple liquidity providers, the following trading pairs will be removed on Wednesday, 10th of February, at 15:00 UTC:

XRP/BTC

XRP/USD”

 

Ripple Price Is Expected To Reach These Levels

With the Ripple price flashing multiple sell indicators, we can expect XRP to drop to the $0.31 support wall. Since this level is very robust, it should absorb an immense amount of selling pressure and prevent further drops.

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