Ripple Price Prediction: XRP Struggles Below $0.38, What to Expect
Skerdian Meta • 1 min read
XRP has been moving laterally recently, with the price remaining stable at $0.36. After encountering consistent resistance at the $0.35 price level, the coin was finally able to break through. Over the last 24 hours, the altcoin has been trading in the green, rising by 1.5 percent.
XRP has increased by double digits in the last week. On the development front, XRP/USD recently announced plans to expand its operations to Canada to establish a new Crypto Hub.
The coin has shown positive sentiments, with XRP reaching $0.38 on its chart. It showed a pullback shortly after touching the $0.38 level. Purchasing power increased as the coin displayed price optimism; the asset was even overbought recently. XRP has retreated from the overbought region following the price correction. The global cryptocurrency market cap is now $1.01 trillion, up 1.4 percent in the last 24 hours.
Ripple (XRP/USD) Technical Outlook
The altcoin was trading at $0.36. The coin’s overhead resistance was $0.38, and XRP pulled back immediately after reaching that price level. The coin’s technical outlook depicted an impending bullish price move.
If XRP breaks through the $0.38 level, it may trade around the $0.46 level. Then, XRP could try to break through the $0.52 resistance level. The coin’s immediate support level was $0.34.
If the altcoin falls below the $0.34 support level, it could reach $0.29. However, trading volume has decreased significantly, indicating that buying has also decreased on the charts. Let’s keep an eye on $0.38 to take a sell below and a buy above this level. Good luck!