skip to Main Content
bitcoin
Bitcoin (BTC) $ 93,737.11 5.82%
ethereum
Ethereum (ETH) $ 1,802.50 10.69%
tether
Tether (USDT) $ 1.00 0.02%
xrp
XRP (XRP) $ 2.27 7.87%
bnb
BNB (BNB) $ 611.63 0.93%
solana
Solana (SOL) $ 152.54 8.98%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.18275 11.02%
cardano
Cardano (ADA) $ 0.702117 9.50%
tron
TRON (TRX) $ 0.245563 0.50%

Why is the XRP Price Down Today? (Ripple Price Analysis)

Ripple is navigating a pivotal range between $1.8 and $3, with recent price action highlighting the likelihood of a consolidation phase.

A breakout from this range will likely determine its next significant trend.

XRP Price Analysis

By Shayan

The Daily Chart

XRP recently faced rejection at the critical $3 resistance, triggering increased volatility and initiating a sideways consolidation phase. After that, the price found support at the $1.8 level, a key zone filled with demand and buying pressure.

This support region can limit further downward movement and maintain the cryptocurrency within the $1.8-$3 range.

As the price consolidates, a bullish or bearish breakout will determine Ripple’s upcoming trajectory. While this could lead to a sustained uptrend, an unexpected bearish breakdown might trigger a significant liquidation event, causing the price to plummet toward lower levels.

xrp_price_chart_2312241
Source: TradingView

The 4-Hour Chart

During the 4-hour timeframe, XRP consolidates within a descending wedge pattern, which often signals a potential bullish breakout if breached upward.

Currently, the price is testing the wedge’s lower boundary near the $1.8 support level, where increased buying activity is expected.

In the mid-term, Ripple seems likely to continue fluctuating within this pattern, with a bullish breakout aiming to reclaim higher levels near $3. Conversely, a bearish breakdown below the wedge’s lower boundary could initiate a decline, potentially driving the price toward the $1.5 threshold, a crucial support level.

xrp_price_chart_2312242
Source: TradingView

The post Why is the XRP Price Down Today? (Ripple Price Analysis) appeared first on CryptoPotato.

Loading data ...
Comparison
View chart compare
View table compare
Back To Top