|

Ripple price analysis: XRP/USD downside will remain risky if $0.28 is unconquered

  • The bear pressure continues to turn support levels in impenetrable fortresses.
  • XRP/USD changing hands at $0.2520 following a 1.57% loss on the day.

Ripple’s performance has not been impressive in the past couple of months. The bear pressure continues to turn support levels in impenetrable fortresses. The recent dive to levels close to $0.24 almost paralyzed the bulls. While shallow recovery movements put smiles on investors’ faces, the celebration was short-lived with the former support at $0.28 barricading movements towards $0.30.

To make matters worse, the largely unprotected downside has allowed another bull battering with XRP exploring levels marginally above $0.2450. A staged recovery from the intraday low lost steam short of $0.26. XRP/USD changing hands at $0.2520 following a 1.57% loss on the day.

Unless the Relative Strength Index surfaces above the oversold and the Moving Average Convergence Divergence reduces the negative divergence, XRP is doomed to slide even lower that the major support at $0.24. It is vital for XRP to ascend the levels and clear the resistance at $0.28 to be able to come out of the bear range.

XRP/USD 1-hour chart

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

More from John Isige
Share:

Editor's Picks

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?

Ethereum activates Glamsterdam on Sepolia testnet: Why the price is falling anyway

Ethereum (ETH) has reached a key milestone in its next major network upgrade. The planned changes aim to improve Ethereum’s Layer 1 capacity and efficiency as network activity grows. The development comes as ETH retreats toward $2,500.

Bitcoin Weekly Forecast: Uptober or Rektober?

Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.

Ripple bulls gather recovery momentum amid returning ETF inflows

Ripple (XRP) trades largely in bearish hands on Friday near $1.40. Although the remittance token has stabilized after a sharp sell-off from weekly highs of $1.53 to lows around $1.32, the path of least resistance remains downward, unless buyers affirm a daily close above the pivotal $1.40 level.

Bitcoin: Uptober or Rektober?
Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.