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At Bittabi, we publish regular price analyses and predictions for XRP. In our Apr 23 analysis of XRP/USD, we predicted that XRP—also known as Ripple— would experience price decreases. Our prediction was validated on Apr 24. To learn more, take a look at our most recent XRP/USD($) and XRP/EUR(€) analysis below:

On Apr 3, 2019, Ripple reached a high close to $0.386 and €0.338. A rapid drop followed. Lows close to $0.313 and €0.278 were reached on Apr 15.

A rapid increase was followed by a gradual decrease. The decrease intensified on Apr 22. Lows below $0.30/€0.27 were reached on Apr 24 and 25. At the time of writing, XRP was still struggling to rise above this level.

XRP/USD & XRP/EUR Prices: Apr 6 – Apr 25

Will the price of Ripple continue to decrease or can we expect a reversal? Let’s find out:

XRP (XRP): Highlights and Trends For April 25, 2019

The price of XRP has been on a downtrend since Apr 6.
It is trading inside a descending wedge.
Bullish divergence is developing in the RSI.
Ripple is trending along a long-term support line.
There is resistance near $0.315 and €0.285.

Descending Channel

The price of XRP/USD on Binance is analyzed at two-hour intervals from Apr 4 to Apr 25 to help determine current trading patterns. We do not include euros in this section because only one trading pair is needed to generate the current trading pattern. Both XRP/USD and XRP/EUR are discussed in the final two sections.

On Apr 4, the price reached a low of $0.325. Several market cycles were subsequently completed. The price has created lower lows each time. Tracing these lows gives us a descending support line:

On Apr 5, the price reached a high of $0.386. At the time of writing, several lower highs had been reached. A descending resistance line is created by tracing these highs. Taken together, the resistance and support lines combine to create a descending channel:

It is likely that the price will continue trading inside the confines of the channel until a decisive move occurs. In order to predict the direction of the move, a look at technical indicators is required.

Technical Indicators

In this section, we incorporate RSI to predict possible future price movements for XRP.

The relative strength index (RSI) is an indicator which calculates the size of the changes in price in order to determine oversold or overbought conditions in the market.

The price of XRP/USD is analyzed alongside the RSI below:

On Apr 24, the price made a low of $. It made a similar low later that day. Similarly, the RSI made the first low on Apr 24 and has continued to generate higher values. This is known as bullish divergence and often precedes price increases. However, the divergence is not very significant in value. Therefore, for a more correct prediction, we need to take a look at a longer time-frame. In the graph below, XRP/USD is analyzed at one-day intervals from December 2018 to April 2019:

The price has been following an ascending support line since Dec 2018. Based on this indicator and previous price movements, we believe that XRP may make a reversal and move toward the resistance line. Nonetheless, the price may continue dropping after the resistance is reached.

Reversal Areas

We now incorporate resistance areas into our analysis to better determine future price fluctuations.

Resistance and support areas are created when the price visits the same level several times. They can act as an area of reversal in case a breakdown or a breakout occurs.

One resistance area is traced below for both XRP in both dollars and euros in the graphs below:

The closest resistance area is found near $0.315 and €0.285. Currently, the resistance area is within the current trading pattern. An upward movement toward the resistance in the short-term could lead prices to this area.

Summary of Analysis

Based on this analysis, XRP is likely to increase toward the resistance line of the wedge. Prices of over $0.31 and €0.28 may be expected in the near future. After these levels are reached, the price may drop back to current levels or lower. For price 2019, 2020, and five-year Ripple price predictions click on the green button below:

LONG-TERM XRP/USD ANALYSIS

Posted from Bittabi Bittabi.com : https://bittabi.com/xrp-usd-xrp-eur-price-analysis-for-04-25-19-drops-below-0-30/