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XRP/USD Price Prediction: 04/11/19 Are the Bears Back for XRP?

At Bittabi, we publish regular price analyses and predictions for XRP. In our Apr 10 analysis of XRP/USD, we predicted that XRP—still known widely as Ripple— would experience slight increases. Our prediction was invalidated the next day when the price broke down from the pattern we have defined below. To learn more, read our latest analysis below:

On Apr 10, 2019 XRP reached a high of nearly $0.37. It began a downtrend, which intensified the next day.

At the time of writing, it has fallen to a low of $0.315.

XPR Prices: Apr 10 – Apr 11

Will XRP break down below $0.30?

Let’s find out:

XRP (XRP): Highlights and Trends For April 11, 2019

  • The price of XRP/USD has been on a downtrend since Apr 8.
  • It is following a long-term ascending support line.
  • Bearish divergence is developing in the RSI.
  • There are support areas near $0.323 and $0.30.

Resistance

The price of XRP/USD on Binance is analyzed at 30-minute intervals from Apr 10 to Apr 11 to help determine current trading patterns.

On Apr 10, the price reached a high of $0.368. It has been decreasing since. The decrease intensified on Apr 11 but reverted to the mean later that day. The price has made several lower highs.

Tracing these highs gives us a descending resistance line:

There is no visible support line yet.

How long will the drop continue?

In order to answer that, we need to take a look at a longer timeframe and some technical indicators.

Technical Indicators

The price of XRP/USD on Binance is analyzed at 12-hour intervals from Dec 2018 to Apr 2019 alongside RSI, in order to trace the previous movement.
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.

Combining RSI bullish/bearish divergence with support/resistance essentially predicts price fluctuations.

On Apr 3, the price reached a high of $0.381. It reached another high of $0.386 on Apr 5.

Similarly, the RSI made the first high on Apr 3. However, it has continued to generate lower values.

This is known as bearish divergence and often precedes price decreases.

Furthermore, we can see that the price of XRP is following an ascending support line since Dec 2018.

Using this indicator, we believe that the price of XRP will decrease towards the ascending support line.

Support Areas

To determine the possible levels which XRP can initiate a reversal prior to the support line, we incorporate support areas into the analysis.

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 occurs.

The closest support area is found near $0.323, where the price is currently trading. The second support area is found near $0.30, coinciding with the support line drawn in the previous section. We believe the price will eventually reach this area.

Summary of Analysis

According to our analysis, the price of XRP will eventually reach the support area near $0.30. While it is possible that short-term increases will occur, we believe that a drop to $0.30 is likely.

For more about XRP including long-term price predictions, click the green button below:

Long-TErm XRP Predictions!

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

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Written by Ravi

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