Ripple Price Analysis: XRP sets another high around $0.58, prepares to decline further?

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The price of XRP has been rising, but the price has not yet broken the $0.50 level. This is because the price of XRP is still near the bottom of the Bullish channel, and a low price of $0.50 is risky.

The table below shows the Ripple price over the last month. As you can see, XRP has been in a steady downtrend after a brief, but significant rally around April 30. The XRP/USD pair is now approaching the $0.58 mark, which might be a temporary resistance level. On the other hand, a minor retracement to $0.57 might be needed before the bears can resume their assault on XRP.

XRP, the native token of the Ripple network, has been on a steady upward trend over the past few months. And although it was recently below $0.50, it has since recovered above that level and is now starting to rise again. XRP has been trading around $0.57 for the past 24-hours, and is currently up by more than 4%. At the moment of writing, this might not seem like much, but I definitely think that XRP is a currency that is getting closer to breaking out of the $1.00 market cap.. Read more about xrp price prediction 2025 and let us know what you think.

TL;DR Summary

  • Yesterday, the price of XRP increased.
  • Around $0.58, resistance was discovered.
  • Next, the market is expected to aim for $0.50.

Ripple price research suggests that negative momentum will continue in the next days, as a new lower high was established overnight. As a result, we anticipate XRP/USD to fall for the remainder of the week, aiming for the $0.50 support level.

Ripple Price Analysis: XRP sets another high around $0.58, prepares to decline further?Heat map of cryptocurrencies. Coin360 is the source of this information.

Over the past 24 hours, the market has been trading with a positive momentum. Ethereum is up approximately 3.14 percent, while Bitcoin is up $0.73 percent. With a gain of 16.8%, Stellar (XLM) is one of the top performers.

The price of Ripple has risen to $0.58 in the past 24 hours.

Over the past 24 hours, XRP/USD has moved in a range of $0.5598 to $0.5886, showing a high level of volatility. The entire market value of the cryptocurrency is approximately 26.93 billion, putting it in sixth position worldwide. Trading volume has risen by 28.9% to $2.75 billion.

XRP/USD 4-hour chart: Is it time to go lower?

On the 4-hour chart, we can see the Ripple price making a new lower high, indicating that the market is preparing for further losses later this week.

Ripple Price Analysis: XRP sets another high around $0.58, prepares to decline further?4-hour chart of XRP/USD. TradingView is the source of this information.

After a new swing high was reached around the $0.74 level at the end of July, ripple price movement has been trading with a strong negative momentum in recent weeks. Since then, the price of XRP/USD has dropped by approximately 30%, reaching $0.52 on Tuesday.

XRP began to rise yesterday after some stabilization around the $0.52 level, rapidly reaching the prior support region around $0.58. Any additional gains were rejected as soon as the price of Ripple surpassed $0.58, with nighttime consolidation remaining sideways. 

This indicates that XRP/USD is expected to fall once again, with the market pivoting in the following 24 hours. The next goal is approximately $0.50, which, if broken, would likely lead to a lot more loss in the coming weeks for XRP/USD.

Conclusion of the Ripple Price Analysis 

As a new lower high was set overnight, ripple price analysis suggests that negative momentum will continue later this week. As a result, XRP/USD is expected to drop below $0.50 in the next weeks, continuing the negative trend that has been in place for many weeks. 

While you wait for Ripple to fall more, check out our tutorials on Bitcoin costs, DeFi benefits, and what you can do with Bitcoin.

Disclaimer: The material on this website is not intended to be trading advice, and.com assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.

Last week I said that the price of XRP (Ripple) was making a high-volume bullish movement, and that the price was likely to decline further. I said that the current price action was a continuation of the trend that had been in place for the past few weeks. Today, I am going to go a little bit further to explain why I think that the price is likely to decline.. Read more about xrp price prediction calculator and let us know what you think.

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Emilia James
By Emilia James

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