- Ripple (XRP) remains bolstered on the $0.30 support as the trend remains neutral on the hourly time frame
- The long-term outlook is still presenting a strong bear market as the bulls are yet to produce significant touches in the market.
- While trading near technical support, Ripple’s XRP may severely collapse if the bears once again release an explosion in the market
Ripple’s XRP has continued to find support at the $0.30 after a slight break-up during last week’s trading. Despite the bounce up, the 3rd best performing cryptocurrency is yet to define an actual direction as price actions remained subdued with choppy price actions since the weekly opening.
However, if the bears continue to power the market, XRP may once again suffer below the acting level of $0.30. Subsequently, we can relate the recent $10k bounce in Bitcoin’s price as a quick rebound for other top cryptocurrency projects including XRP.
Current XRP Statistics
Trading Price: $0.317
Market Capitalization: $13,603,212,877
Trading Volume: $1,128,385,926
Key Resistance Levels: $0.34, $0.37, $0.40
Key Support Levels: $0.30, $0.29, $0.28
Ripple (XRP) Price Prediction for July 25, 2019
Taking a look at the 4-hour chart, it’s quite obvious the Ripple’s XRP market has managed to stay above the $0.30 following the July 17 rebound that made the market to touch the $0.34 before retesting the break level of $0.30. However, the cryptocurrency is stable at around $0.315.
As of now, a sudden surge in volatility is likely to occur in the short-term outlook as the market remains indecisive. A bullish wave may shoot the price of XRP to a peak of $0.34, $0.37 and $0.04. Inversely, we can expect a bearish surge to bottom at the $0.3, $0.29 and $0.28, where the long-term support is drawn in yellow.
Conclusively:
Considering the numbers of time a level is tested, it may cause the $0.30 level to become weak thereby leading the XRP/USD pair to a severe collapse beyond expectation as a fresh low may be produced even below the $0.28, which has been the last defense line for the bulls for over months now. Therefore, we may need to wait and watch the next likely move for Ripple (XRP)’s market to avoid severe loss
Technical Indicator Reading
MACD is now lying at the zero level, indicating an indecisive market for the native cryptocurrency of Ripple. Like we said earlier, we may need to wait for a clear signal before entry.
RSI is now level as 48 as a result of the current straight move, which is more significant on the hourly time frame.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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