- XRP price drops by 7%
- Consolidation around $0.27
- Key resistance is $028750
1 Hour XRP/USD price chart
XRP price suffered a dramatic decrease by 7 % and is now trading at $0.27 price mark. Price first fell out of the ascending trading channel as a result of increased bearish pressure XRP/USD price then broke out below the support on high volume and high momentum losing 7% of its value in 24 hours.
At some point, the price went down as low as $0.25, however, price did not hold that level and crawled back up to $0.27$ leaving low tail candlestick on the one-hour trading chart. Coupled with bullish crossover on MACD indicator that can be a signal of increasing demand and falling supply. If the price rests for a while and continues its consolidation in the current price zone, we are more likely to witness breakout above $0.28750 resistance line.
Chart source: Tradingview
Disclaimer: Markets, instruments, and advice on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
Author of One of the World’s Most Sold Self-help Books Says Bitcoin Holders Will Get Rich as the Fed Prints ‘Fake Dollars’
The Reason Why Ripple’s XRP Has ‘Such a Loyal Army’, Explains Firm’s Former Principal Developer Advocate
After Years Long Litigation With the SEC, Ripple Anticipates the End of the Lawsuit
Ripple’s CTO Gives Befitting Reply to Ai Chatbot’s Conspiracy that Ripple Controls XRP Ledger Secretly
Best Board Meeting Software Solutions for All Different Needs
Recent Press Release
Know Encrypted International SIM Card. A new product to get secure communications and cybersecurity
In the current era in which privacy is increasingly scarce and violated, Cybersecurity has become more relevant within people and...
What Are the Perks of Using Trading Bots?
Many people like to trade stocks using either an automated system that runs on its own or by trading manually....
Top 10 Ways To Build Wealth With Modern And Traditional Approaches
Building wealth is a tedious job but in the right manner, it can be achieved. Many people aspire to become...
Is Young Money Superior To Old Money In The Latest Digital Age?
To the advantage of all of us, modern tech has accelerated economic progress, and we must keep embracing innovation, particularly...
5 Best Ways Artificial Intelligence Can Boost Your Business
Artificial intelligence (AI) is not only a concept for science fiction anymore; it is also starting to appear in business....