Ripple (XRP) Price Analysis – Bearish Pressure Pushes Price Beneath $0.3551

Altcoins Cryptocurrency News Price Analysis Ripple (XRP)
  • XRP price outlook is bearish.
  • The next resistance stands at $0.3551.
  • XRP/USD has support at $0.324.

Ripple price exhibited losses as the remittance token plummeted toward $0.3496 today. The downward trend remained constant within the past two days, and the price followed a downside trend. Meanwhile, the trend reversals were somewhat unanticipated as bulls led the markets previously.

Nevertheless, bears have dominated again, and XRP price explored devalued conditions. The digital token has dropped 0.58%. Its trading volume read $1.78, whereas Ripple’s market cap stood at $17.52 billion.

XRP-USD 1-Day Chart

The 1-day chart shows Ripple endured intensified bearishness. Constant declines have plunged the price toward $0.3496. Meanwhile, the alternative token has battled bearishness within the last few days. Similar trends dominated the previous day also. Meanwhile, the price has dipped beneath the MA at $0.3895.

The volatility remains elevated, meaning the downtrends could persist for the upcoming hours. Meanwhile, the upper Bollinger Band stood at $0.5387, whereas the lower one stood at $0.3284. the Relative Strength Index has dropped to 43.69.

4Hr Price Chart – Bearish Tendencies Trigger Dips Beneath $0.3551

The 4hr chart confirms bearish signals as XRP endured a significant slump. The alternative coin has seen consistent price declines as the remittance token exhibited downward biases. Also, the previous 4 hours saw a price reduction, with XRP plunging to $0.3496. Moreover, the MA indicator hovered at $0.3461 during this publication.

The bearish slope triggered heightened volatility. However, that saw the Bollinger Bands expanding. The upper BB stood at $0.3907, whereas the lower one read $0.0330. Meanwhile, the overall average stands at $0.3465. The RSI plunged drastically to explore the 37.10 mark, approaching the undersold territory.

Conclusion

Ripple’s one-day and four-hour charts show XRP followed bearishness within the previous six hours. Bears lead the play at the moment, pushing the alt’s price down to $0.3496.

Meanwhile, market players can expect further declines as bears have dominated the space over the past few sessions. The price has plummeted consistently, meaning diminished bullish recovery chances.

What are your opinions about XRP amidst the current crypto market outlook? You can comment below.

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