Ripple (XRP) Encounters Crucial Resistance That Might Send It beneath $0.7 – Price Analysis

Ripple has experienced downside trends within the previous eleven months. However, recent days have seen uptrends, XRP nearly topping at $2. Though this week’s candlestick remains green, daily candles are yet to show strength.

XRP Daily Chart

Ripple keeps its price reaction under the 200EMA line on the 24-hour scale. The area has offered resistance in recent months and stands at $0.85 currently. For now, the primary vital zone remains the static resistance around $1, the level intersecting with the dynamic resistance, and also represents a psychological barrier for the remittance coin. XRP encounters a challenging task, and overcoming the $1 level should not be that easy.

(Advertisement)Artificial Intelligence Crypto Trading Artificial Intelligence Crypto Trading System - Surpass the competition with this cutting-edge AI system! Utilize the prowess of innovative algorithms and amplify your crypto trading strategies with CypherMindHQ. Learn more today!

The Chaikin Money Flow’s status remains a notable point. An uptrend initiated after this indicator touched the yellow zone and crossed beyond the baseline. Now, the CMF exhibits a similar condition, and we should wait to see if the price unveils a similar positive response. In such cases, Ripple might retest the $1 mark soon.

4Hr Timeframe

The 4hr chart also shows a near-term resistance standing at $0.85, which provides massive sellers’ supply. Moreover, the BMAX indicators move away from the overbought region and may gain strength to test the near-term resistance in the coming session. Meanwhile, the cross-border transaction token might plummet towards the triangle’s bottom, near the support barrier of $0.70.

The 4hr chart shows Ripple price functions might reverse soon as bulls seem tired following yesterday’s enormous push. XRP continued to climb with multiple higher lows within the previous weeks. The alt formed its final massive swing low at $0.75 and the many-week ascending trend-line after a remarkable surge towards $0.85 on March 11.

Bulls pushed XRP higher mid this week, hitting $0.80 within no time. However, the crypto met rejection and dipped before retesting $0.80. Meanwhile, another upswing started on March 18 after the market cooled down and printed a local point at $0.78. However, Ripple overcame this resistance early yesterday to form a local high near $0.825.

Ripple price movements have noted steady declines since then, and the alt seems ready for another local low before continuing the rally. Meanwhile, trend-altering sentiment might change the narrative.