The price of Ripple (XRP) has dropped about 1% over the last 24 hours, and is currently hovering around $0.296.
Ripple’s price is currently consolidating near new support levels around $0.29 after a huge rally last month which saw XRP’s price rise by more than 10%. The previous support level until recently was around $0.30. Around mid-April, things started to look bearish for XRP and price started climbing down, dropping from $0.375 at its highest to $0.28 – representing a 15% decline in price in about two weeks.
Daily volume has decreased substantially as well by about 60% and is now sitting close to $1 billion. At its highest, it was closer to $2.75 billion.
Looking at the EMAs, we can see the 20-day EMA is still a ceiling for price, meaning we’re not quite out of the bear market yet, at least not for Ripple. As I’ve mentioned before, only after the 20-day EMA crosses the 50-day and 200-day EMAs am I confident things are starting to look more bullish for XRP.
Despite price rising above all the EMAs in early April, it’s now facing resistance at the 20-day EMA. Unless we see a sudden spike in price towards the 50-day EMA, much like we saw in late April, then I would expect higher volumes to come into the market before we see any movement upwards.
At the moment, Bitcoin is the only cryptocurrency making some gains. What I believe is happening is traders are going from altcoins into Bitcoin, as they expect it to start pumping towards the $7,000 level. By looking at the total market cap with and without Bitcoin, we see money is being transferred from one side to the other, as altcoins keep losing volume and Bitcoin keeps increasing.
Latest Ripple price
Current live Ripple pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Ripple price. Pricing is also available in a range of different currency equivalents:
US Dollar – XRPtoUSD
British Pound Sterling – XRPtoGBP
Japanese Yen – XRPtoJPY
Euro – XRPtoEUR
Australian Dollar – XRPtoAUD
Russian Rouble – XRPtoRUB
Bitcoin – XRPtoBTC
Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or Ripple protocol. It can trace its roots to 2004 when a web developer called Ryan Fugger had the idea to create a monetary system that was decentralised and could effectively allow individuals to create their own money.
Ripple is one of the largest cryptocurrencies and is one of the Top 10 cryptocurrencies by market capitalisation.
More Ripple news and information
If you want to find out more information about Ripple or cryptocurrencies in general, then use the search box at the top of this page. Here’s a recent article to get you started:
By Pedro Febrero – May 10, 2019
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.