Ripple Tumbles by 1.5% Overnight with no Signs of Improvement

• Ripple loses 1.5% to fall below 0.24 USD over the last 24 hours.
• The next support for XRP may come at 0.2323 USD, if the coin falls even further.

Ripple (XRP) has lost almost 1.5% in the last 24 hours and the current value has now gone below 0.24 USD. The range of the price swings is between 0.2427 USD and 0.2355 USD. The value against USD could not keep its head above 0.24 USD for any long period yesterday.

Ripple Price Analysis:

Ripple‘s first 12 hours for yesterday saw a gradual decline. Between 00:07 UTC and 07:20 UTC, it lost 1.94% to be placed at 0.2379 USD. However, at 12:40 UTC, it started showing signs of strength and over the next 6 hours and 19 minutes, it could scale the value to 0.2393 USD from 0.2355 USD.

The third variation was also an inclination of 2.10% and it added 0.0050 USD to push the value to 0.2427 USD by 22:26 UTC. This made the highest point for the day. The last swing was a huge price cut. Between 22:26 UTC and 01:15 UTC, XRP lost 0.0047 USD to reach 0.2380 USD.

The market cap of Ripple is also on a constant slope since the last few days. Over the last 24 hours, the market cap has fallen from 10.44 billion USD to 10.39 billion USD.

XRP’s 20-day average is above its 50 days moving average. It means, in the last few days, it performed well just before the current dip. However, the current trend is way below both the indicators. So, we should not expect any signs of strength anytime soon. As per our prediction, XRP may get to the support of 0.2323 USD.