The Ripple price analysis reveals that XRP is unable to break above yesterday’s price cap. XRP/USD shows sideways price movement today after a small increase in price up to $0.386 yesterday. Selling pressure is still there in the market as the price corrected at the start of the trading session, and the coin has still hardly leveled up to a point from where the last correction started. Overall the XRP/USD pair is on a slight downtrend. However, the steep downfall has been slowed down, and the cryptocurrency is trying to maintain its price levels after 13 May 2022.
XRP/USD 1-day price chart: Daily candlestick keeps blinking red and green
The 1-day Ripple price analysis shows a lack of momentum, as the value of the cryptocurrency hasn’t increased or decreased notably today. After covering the range upwards yesterday, XRP seems to be in sideways price movement as the price is trading at $0.386 at the time of writing. XRP/USD price is slightly on the positive side as it reports a nominal gain of 0.26 percent in value for the past 24 hours. However, the crypto pair is at a loss of 7.11 percent over the span of the last seven days, as the overall trendline is still slightly downwards.
The volatility is comparatively mild, with Bollinger bands showing the upper band at $0.471 representing the strongest resistance and the lower band at $0.358 representing the strongest support. The average of Bollinger bands is at the $0.414 mark above the price level. The moving average (MA) is present at $0.399, also above the price level. The relative strength index (RSI) shows a reading of 32, which is at the lowest neutral level, and the slope of the indicator is almost horizontal, which hints at a lack of momentum from the bullish side.
Ripple price analysis: Recent developments and further technical indications
The 4-hour price chart for Ripple price analysis shows a continuation of the green candlesticks on the chart for the last 12 hours. However, the size of the candlesticks is small, which shows a very small increase in XRP price. After the bullish momentum of yesterday and the bullish activity of the last 24 hours, the price is still trading at $0.386, which hints at the bearish presence of the bearish pressure.
The volatility is low at the current time as Bollinger bands have narrowed down. The Bollinger bands top end is present at the $0.396 mark and the lower band at the $0.378 mark, making an average at the $0.387 mark. The price is still trading below the mean average of the indicator. The moving average is at the $0.385 mark, just below the price level.
The relative strength index (RSI) is trading at index 43, and the curve is horizontal. However, the score of the indicator is at an acceptable level on an hourly basis.
Ripple price analysis: Conclusion
The 1-day and 4-hours Ripple price analysis shows an undefined trend for the cryptocurrency. The bearish pressure is still there. After the decline in price recorded at the start of the trading session today, bulls have recovered the loss, but yet they haven’t been able to cover the range further upwards.
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Source: https://www.cryptopolitan.com/ripple-price-analysis-2022-05-29/