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Ripple Initiates Recovery; Falls to the Support of $0.2401

Ripple News
Ripple (XRP) News
  • 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 (XRP) Price News

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.

Michael Hobbs

Michael Hobbs is an Trading Expert. He has knowledge in all the trading done related to the cryptocurrencies. He has experience in covering all the digital currencies. He is recently focusing more towards the latest updates on XRP.

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