Ripple News (XRP News)

XRP Pulls Back After Retreating to a 30-day High Above $0.210

XRP, at the time of writing, was trading at $0.195 after resorting to a 30-day high above $0.210 earlier in the ongoing week against the US Dollar. XRP is believed to be the 2nd most purchased crypto after Bitcoin and is the first most preferred crypto when it comes to trading in altcoins. However, it was just in the recent past that its position was taken over by Tether due to static and slow growth.

However, if an investor plans to have a nominal amount of investment with not so heavy on the risk-reward side, XRP will turn out to be the investment of the hour.

XRP Price Analysis

On the 3-hourly chart, XRP is seen experiencing pullback against the US Dollar after retreating to the 30-day high price above $0.210. However, the currency has gained a notable momentum after drawing a downtrend and a higher low pattern in the previous month. It was just at the onset of the ongoing week when XRP coin breached the week-long consolidation and rose above $0.180 trading price zone.

The recent intraday correction has led to hitting the lower 20-day Bollinger Band after having a brief spur above $0.210 price. Moreover, the 20-day Bollinger Bands projects about expanding volatility but retains complete support from the daily MAs.

The MACD chart of XRP shows a bearish divergence after the correction from the 30-day high, and the RSI has also slid below the overbought region to a steady range where it lies at 49.24.

Edward Nash

Edward Nash is an editor and analyst with over 10 years of financial market experience. Prior to joining CoinNewsSpan, he worked in several famous financial institutions. He has been active in the cryptocurrency market since 2011, specializing in technical analysis of current crypto trends and offering analytical opinion-based pieces.

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