November 27, 2018 AtoZ Markets - Ripple has seen a negative -7.47% over the past 24 hours of trading. The coin is now trading at a price below $0.35 levels. The crypto market has had a turbulent 7 day period as price drops by a total of -20.43%, according to CoinMarketCap stats. Ripple presently holds a $14.15 billion market cap value which puts the cryptocurrency in second place, ahead of Ethereum, In terms of market capatilization.
Since last week, the price of Ripple has dropped by -20.43% with a total volume of over $ 445.34 Million. The highest price of the coin, $ 0.47, was on 20 November 2018 at 16:00 GMT while the lowest price, $ 0.32, was on 25 November 2018 at 12:00 GMT.
Ripple Technical Analysis
Yesterday, Ripple price showed a minor upside recovery above the $0.36 level in Ripple price against the USD. The XRPUSD pair even traded above the $0.38 level, but it struggled to clear the $0.39 resistance handle. There was also a decline noted near the $0.385 levels and the 100 hourly SMA. Besides, the price failed to stay above the 61.8% Fibonacci retracement level of the last drop from the $0.41 highs to $0.32 lows.
Moreover, there was a fresh decline in the Ripple price below $0.37 level and the price moved back in a bearish zone. During the decline, the price of the coin broke the 61.8% Fibonacci retracement level of the last wave from the $0.31 lows to $0.38 highs. The price tested the $0.33 level where buyers emerged. Moreover, the 76.4% Fibonacci retracement level of the last wave also acted as a support near $0.33.
On the upside, an initial resistance is near the $0.36 level. More importantly, yesterday’s crucial bearish trend line is active with resistance at $0.3620 on the hourly chart of the XRP/USD pair.
In conclusion, Ripple price is clearly facing a lot of hurdles on the upside near the $0.36 and $0.39 levels. As per the technical indicators, Ripple price might break below the $0.34 support level and might drop below $0.30 level in the upcoming days.
- RSI(14) is valued below 50 which signals "Sell" action in daily time-frame.
- William%R – "Oversold" signal on the daily time-frame.
- MACD(12,26) – "Sell" signal in daily charts.
- ATR(14) – signals that Ripple is highly volatile.
Ripple Pivot Points
Ripple has a daily support near $0.34 and resistance near $0.40 levels.
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