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August 27, 2022

Ripple (XRP) Market Update

In spite of recent volatility, the price of Ripple (XRP) has remained stable at $0.33 for the last week. In contrast, the recent high of $0.38 has not yet been reached, with the price oscillating below $0.36 until the previous week. In the meanwhile, another brief gain for Ripple (XRP) may lead to a price decline for the seventh-ranked cryptocurrency.

According to CoinMarketCap, the current XRP price is $0.33, a decrease of 5.10% over the last 24 hours. Weekly, the asset declined 1.60 percent.

According to Bitcoinsensus, if the current range of $0.33 leads to a rise to the $0.35 level, XRP might see negative momentum. If the bearish trend persists, the asset might fall to as low as $0.27 at the $0.35 level, it was said.

“XRP may advance to $0.3580, and if we see bearish rejections around this level, we can anticipate the next dip to $0.3230/$0.2970 and $0.2760.” XRP has reached the FIB level at about $0.3630. If bearish patterns are seen, the price will drop to these goals.”

Ripple is yet to hit the $0.36 Fibonacci level, but the $0.32 level is definitely within reach. If the bitcoin hits $0.32, a short-term decline to $0.29 and $0.27 is highly probable. “There was a flawless retest of the FIB level, and we are approaching Target 1 of $0.3230. We may also drop below $0.2980 and $0.2760 in the near future.”

For the XRP price to have positive momentum, it looks that a breakthrough over $0.38 is required. In recent periods, the price range for XRP was between $0.388 and $0.315. If this zone is breached, the cryptocurrency may enter a bullish trend.

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The asset reached a high of $0.40 per unit last month before holding its current pricing. Intriguingly, the asset’s highest price during the previous three months was $0.42 at the end of May. The price of Ripple hit a low of $0.30 in the middle of June, following which it fluctuated to about $0.36.