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Technical analysis

Is Ripple Price Going Back to $0.28 Zone Again?

Amandeep Sonewane | Feb. 12, 2019
Is Ripple Price Going Back to $0.28 Zone Again?

Ripple price began to drop underneath the $0.3050 support against the USD. The coin is experiencing selling pressure and is moving towards the next support around $0.2910 levels. Here is the Ripple technical outlook for short term timeframe.

February 12, 2019 AtoZ Markets  Ripple price has experienced a downward correction which cleared out all the major gains which it experienced till yesterday. The price of the coin settled below $0.3050 level and it may fall down to test the support around $0.2910 level.

Since last Week, the price of the coin has moved by 0.3681% with a total volume of over $ 86.14 Million. The highest price, $ 0.3216, was 08 February 2019 while the lowest price, $ 0.2878, was on 07 February 2019 at 01:00 GMT.

Ripple Price Prediction for Short Term

Ripple price began a downward correction after rising up to $0.3200 level against the USD. The XRPUSD pair fell underneath the $0.3100 and $0.3050 support levels. The massive selling pressure dropped the price of the coin underneath $0.3000 support level and the 100 hourly SMA.

Ripple price erased most of its gains which it experienced in the last few days and it could expected to fall below the next support of $0.2910 in the short term.

Ripple price fell as low as $0.2939 mark and is currently trying to surge above, facing massive selling pressure. Major resistance is formed around $0.3000 level and the 100 hourly SMA. If Ripple price is able to break this resistance, there is also a major resistance formed around $0.3025 handle.

Moreover, most number of sellers are placed around $0.3050 region. Also, there is a bearish trend line formed with resistance around $0.3040 on the hourly chart of the XRPUSD pair.

Looking at the charts, Ripple price is facing a bearish trend from the $0.3200 swing high it experienced recently. The price of the coin is expected to slide towards the $0.2910 support level. However, on the upside, Ripple's price must break the $0.3000 and $0.3050 resistance levels for a bullish pull.

Ripple Weekly Pivot Points

Ripple has weekly support near $0.2940 and resistance near $0.3250 levels.

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.