- Ripple price fell after failing to break the established resistance level.
closing below $0.47 could strengthen the downtrend.
- Closing below $0.4574 could extend XRP’s decline to $0.42.
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When examining Ripple’s daily price chart, it can be seen that the failure to break the established resistance level triggered a decline in XRP’s price. Additionally, the short position shared in the short-term analysis has provided gains for our readers.
Medium-Term Ripple (XRP) Price Analysis
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Daily XRP/USD Price Chart
When examining Ripple’s daily price chart, it can be seen that the failure to achieve daily candlestick closes above the important established resistance level triggered a downtrend and caused XRP’s price to drop to $0.48. Currently, Ripple’s price is moving at $0.4913.
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As mentioned in the analysis, if XRP closes below $0.47, it could continue the downtrend and drop to $0.4574.
If XRP closes below $0.4574, it could extend the downtrend to $0.42.
Short-Term XRP Price Analysis
15 Minute XRP/USD Price Chart
When examining Ripple’s short-term price analysis, the short position we mentioned in our previous analysis was executed step by step and provided our readers with a 4.40% return.
XRP’s price closed below the previously mentioned $0.53 level for 30 minutes and then rose to the OTE zone.
In our analysis yesterday, we mentioned that a short position could be entered from the OTE zone and that the stop-loss level could be used at $0.5447.
With this movement, our readers who entered the short position gained profits.