- Ripple’s XRP price is trading in negative territory going down by 1.35%
- 1D MACD indicator is bearish
- The price surge is likely soon, but it can be either bearish or bullish
1-hour XRP/USD price chart
XRP/USD is still following a bearish trend line with price recording a decrease of 1.35% in the last 24 hours. The current outlook makes both bullish and bearish scenarios possible.
High volume, low tail candlestick suggests weakening selling pressure. Crucial support levels at $0.266, $0.260 and further down at $0.250 may prove a strong burden for the bears to break and push the price down more. In that case, price is expected to consolidate between the current support line of $0.2660 and immediate resistance of $0.2680 before breaking up on high volume and momentum above the $0.2750 mark.
The failed uptrend, on the other hand, may stimulate further sales with price breaking closest support levels and dropping down to $0.260 or even lower. The current MACD indicator on one hour chart suggests bearish outcome, the same is confirmed if we look at the MACD on the 15-minute chart.
Chart source: Tradingview
Disclaimer: Markets, instruments and advices 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. Ripplecoinnews does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. Investing in Cryptocurrencies involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.
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