Ripple News (XRP News)

Ripple’s Price Drop Halts; Initiates Slow Recovery

  • Ripple price approaches the 23.60% Fib level after a price fall
  • XRP coin seems to have a support level at $0.2193
  • The coin failed to trade above $23; rejection followed by a price fall of more than 5%
  • MACD looks positive; SMA lines still give negative signals

Ripple (XRP) has started an upward journey just now today after early morning price plunges. The coin has been consolidating for more than a day till yesterday.

Ripple Price Prediction

On November 7, the coin opened at $0.2260 and had a few ups and downs around $0.2268 to $0.2243. The next day, XRP coin took a sharp surge above $0.23, increasing the risk appetite of the investors. However, instead of continuing the surge, it gradually declined below the key support of $0.2200. Ripple price found a support level at $0.2193 with a hefty drop of 5.53%.

The coin could manage a rebound above 23.60% Fib level at the time and then corrected down. Now when Ripple has started a gentle uptrend, the coin is again approaching the same Fib level. At 12:18:58 UTC, XRP price is trading at $0.2208.

Ripple Price ChartSMA lines are bearish since when the XRP price decline of more than 5% took place as here, the lines have formed a death cross. MACD lines are gearing up to enter the bullish zone while having the MACD line on the upside. Notably, Ripple, the major altcoin, is carrying a prolonged selling pressure for more than a month now.

Thomas Gillard

Thomas is news editor at CoinNewsSpan. He has worked as a sub editor for leading newspapers and magazines. He is responsible for streamlining the news that would go live on the site. He single handedly executes different editorial decisions that are taken from time to time. His primary focus areas include Ethereum and Ripple and crypto mining.

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