Ripple Initiates Recovery; Falls to the Support of $0.2401
- Ripple coin is currently being traded at $0.2401 after dropping by 11% in the last week
- The market cap has also followed a similar line, and the resistance point seems possible at $0.2468
Ripple’s price against the US Dollar has spotted slight improvement over the last two days, and currently, it stuck at a weekly loss of 11%. At the time of writing this analysis, XRP coin was trading at $0.2401 with upside momentum, and it may continue the ongoing trend. Investors may witness some sudden changes in the movement.
XRP/USD Price Chart
Ripple cryptocurrency opened the week at $0.2698 on February 21. Over the next two days, its price strengthened by 5.37%, and it could add $0.0145 to push the value to $0.2843. After trading above $0.2843, XRP faced a gradual decline, and the price touched 21.63% that cost it a whopping $0.0615 by February 27. However, between 01:05 & 17:15 UTC, Ripple price has managed to get a hike of 10.37%. The latest value roams around $0.2410.
Ripple Price Prediction
The market cap of XRP has followed a similar route. Over this week, the market cap has shrunk to 10.533 billion USD from 12.028 billion USD.
Ripple’s current price stands at $0.2401, and it trades above its both the daily moving averages viz., 50 days & 20 days by marginal difference. If we look at the MACD indicator, the Signal line moved above the MACD line, and it indicates that the currency may trade in a similar range further and might register moderate growth.