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Ripple price prediction: Ripple peaks at $1.55, prepares for another push lower?

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  • XRP finds resistance around $1.50-$1.55 overnight.
  • Closest support at $1.25-$1.30.
  • Next major support at $1.18.

Today’s Ripple price prediction is bearish as bears start to push XRP/USD lower after peaking around $1.55 overnight. Therefore, we expect another move towards the $1.30 support over the next 24 hours. From there, we should see signs for where XRP is headed later this month.

Ripple price prediction: Ripple peaks at $1.55, prepares for another push lower? 1
Cryptocurrency heat map. Source: Coin360

The overall market trades in the green today as bulls have pushed most altcoins higher overnight. However, Bitcoin remains relatively flat with a small gain of 1.81 percent. Additionally, Uniswap (UNI) is among the best performers from the major altcoins with a gain of 15.7 percent.

Ripple price prediction: Ripple peaks at $1.55, prepares for another push lower? 

XRP/USD opened at $1.48 after a slight rally yesterday pushed the market below $1.50 resistance. Earlier today, the Ripple price continued higher and peaked at $1.55. Currently, XRP/USD pushes lower as XRP looks to establish a higher low.

Ripple price movement in the last 24 hours

XRP/USD price moved in a range of $1.40 – $1.54, indicating a substantial amount of volatility. 24 hour trading volume has dropped by 33.26 percent and totals $7.5 billion. The total market cap trades at $50.6 billion, ranking the cryptocurrency in 7th place overall.

XRP/USD 4-hour chart – XRP rejects further upside and starts to move lower

On the 4-hour chart, we can see the Ripple price action moving lower over the past hours, indicating further downside later today.

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Ripple price prediction: Ripple peaks at $1.55, prepares for another push lower?
XRP/USD 4-hour chart. Source: TradingView

The overall market continues trading in a bearish price action structure over the last week. After setting a new all-time high at $1.95 on the 14th of April, Ripple retraced more than 50 percent until support was found around the $1 mark.

After some initial consolidation, XRP/USD moved higher until the $1.70 resistance was reached on the 6th of May. After some retracement to the $1.50 support, Ripple attempted to move higher, however, the further upside was rejected around $1.60.

Over the following hours, XRP/USD spiked lower, with the $1.22 mark reached shortly after. This means that the market structure turned bearish again as both a lower high and low was established.

Yesterday, Ripple started moving higher again until another lower low was set around $1.55. This lower low resulted in a clear bearish trendline for resistance being established, meaning that XRP/USD will continue trending lower until it is broken.

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Therefore, XRP/USD should move lower later today, with the next support located at the $1.30 mark. If another lower low is set, Ripple will likely continue moving lower over the next weeks. Alternatively, we could see a break above the trendline later this week, which would serve as an indication that the current bearish momentum has ended.

Ripple Price Prediction: Conclusion 

Ripple price prediction is bearish today as the market starts to retrace after setting a lower high at the $1.55 mark overnight. Therefore, we expect XRP/USD to move lower towards $1.30 support to potentially set a higher low, from which to move higher later this week.

While waiting for further Ripple price action development, read our guide on another great altcoin – Monero. To learn more about cryptocurrencies, see our investing guide and wallet overview in 2021.

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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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