Ripple Price Analysis: XRP/USD slumps beneath $0.30, $0.25 in sight
|- Ripple price spirals under $0.30, opening the door towards the key support at $0.25.
- XRP/USD struggles to stay above $0.28 amid calls for further downward action.
Spot rate: $0.2874
Relative change: -005944
Percentage change: -2%
Volatility: Shrinking
Trend: Bullish
XRP/USD daily chart
Ripple price immediate support at $0.27 stays in place despite the correction from last week’s high around $0.349. A downward moving RSI suggests that the correction could last longer, even spill into the European session on Monday. The 21-day SMA is in line to offer support in the event XRP/USD dives under $0.28.
XRP/USD 2-hour chart
Ripple sustains an upward price action above a key trend line despite the slump from recent yearly highs. The upward action is, however, likely to be broken, especially if the support at $0.27 is shuttered. Meanwhile, the MACD shows that bearish dominance has the potential to last longer.
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