Ripple price analysis shows that the XRP is consolidating above $0.22 and remains at a risk of more downsides if it fails to recover above $0.24.
Last week, the price of Ripple (XRP) was trading in a bearish zone after the coin dropped from the $0.27 resistance level. The bears pulled the price below a few key supports near the $0.25 level to enter a bearish zone.
Moreover, there was a close below the $0.24 level and Ripple price traded as low as $0.22. However, at the time of writing this Ripple price analysis, the coin is recovering and trading at the $0.23 level. Therefore, Ripple price must break above the $0.23 and $0.24 resistance levels to start a decent recovery.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line which indicates a buy signal.
On the 1-hour chart, the XRP bulls are preparing for the next major move either above $0.2375 or below $0.2215. A clear break below $0.2215 could be very deadly and the price might even dive below $0.2200.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
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