Ripple (XRP) Price Analysis- February 2019
In the month of February the overall trend was upward in the ripple price. It has shown a growth of 6.5% in the last 30 days so far. This trend is different then the month before i.e. January 2019 where it was trading high. If we compare it with top cryptocurrencies then xrp was left behind at #3 by ethereum again.
If we analyse the price trend for the ripple then there was no any unusual movement in the price. It is still behind the price what it was trading in January
- 5.9 % decrease in price over the last 7 days
- 3.0 % increase in the price over the last 14 days
- 6.5 % increase in the price over the last 30 days
- 14.2 % decrease in price over the last 60 days
In the final week the price trend shows a strong selling interest and it broke the support level of $0.30 by dropping below the level of $0.29.
First week performance was average in terms of the price, the price remained low at the closing end.
On the second week the price trend changed as against the first week with average opening price at $0.303851 and closing price at $0.305194. Average trading price was below around $0.31. If we compare it with first week then we can say it was much consistent.
In third week as entire crypto market was bullish ripple price was not intact of the trend. It performed better then the last two weeks and crossed the resistance level of $0.31, $0.32 and $0.33
The performance of ripple price was consistent during the fourth week and it was trading above $0.31 resistance level except on 24th when it broke the support level of $0.30.
As per the data trend, ripple price seems to be steady and does not show any unusual upward movement. Maintaining the support level of $0.30 seems to fine so far. Resistance level should be $0.33 for the month of March 2019 as per the trend above.
Data Source: coingecko.com
Disclaimer: We do not encourage or suggest anybody to invest in XRP and other Cryptocurrencies, please do your own full research and follow the law/rules as per your country standard.