Ripple Price Analysis: XRP Keeps Up Crucial $0.40 Level, But Situation Looks Very Fragile

Ripple’s XRP has seen a 5.77% price decline over the past 24 hours, bringing its current trading price down to around $0.4152. The cryptocurrency has travelled as low as $0.39 over the past 24 hours but has remained resilient in breaking back above support at $0.41.

XRP remains ranked in 3rd place as it currently holds a $17.45 billion market cap valuation, according to CoinMarketCap data at press time. The asset has now seen a 37% price surge over the past 30 days, with a Golden Crossover signal occurring in May 2019.

Looking at the XRP/USD 1-Day Chart:

Since our previous XRP/USD analysis, we can see that although price action has dipped beneath $0.40, the crypto asset has remained resilient in battling to remain above the $0.40 level.
From above: The nearest level of resistance now lies at $0.4235. Above this, further resistance exists at $0.4376, as well as between $0.4580 and $0.4620. If the bulls can continue above $0.47, further resistance then lies at $0.48 and $0.50.
From below: The nearest level of support now sits at $0.40. Beneath this, further support can be found at $0.39, $0.38 and $0.37 (which also contains the 200-day EMA). Beneath $0.37, further support exists at $0.3610 and $0.35.
Trading volume increased during the recent round of selling.
The RSI has recently dipped beneath the 50 level, which suggests the bears are in control of market momentum.

Looking at the XRP/BTC 1-Day Chart:

Against Bitcoin, we can see XRP has managed to remain strong above the 5000 SAT support level. XRP/BTC has now traveled higher and trades close to the 5200 SAT level.
From above: The nearest level of resistance above 5200 SAT exists at 5300 SAT and 5570 SAT. Above this, further resistance can be located at 5960 SAT, 6210 SAT and 6500 SAT.
From below: The nearest level of support now lies at 5100 SAT and 5000 SAT. Beneath 5000 SAT, further support sits at 4730 SAT, 4480 SAT and 4300 SAT.
The RSI recently broke above the 50 level, which indicates the bulls are in control of market momentum, a very rare occurrence during 2019.