Ripple price started a strong rise from the $0.3740 swing low. XRP/USD surged above the $0.4000 resistance, but it failed to continue higher and it is currently preparing for the next move above the $0.3900 support.

  • Ripple price gained more than 10% in the past two days and climbed above $0.4000.
  • XRP/USD is currently trading inside a contracting triangle with resistance near $0.3965 on the 30-minute chart.
  • The price could start a fresh increase once it clears the $0.3965 and $0.4000 resistances.

Ripple Price

Ripple Price Analysis (XRP to USD)

In the past two days, there was a solid upward move in ripple price from the $0.3740 swing low. XRP/USD climbed more than 10% and broke the $0.4000 resistance level before topping near the $0.4113 level.

Ripple Price Analysis (XRP to USD)

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair surged towards the $0.4100 level and broke the 25 simple moving average (30-minute chart). A new intraday high was formed near $0.4113 and recently the price corrected lower.

It broke the $0.4040 support and the 25 simple moving average (30-minute chart). It tested the $0.3890 level and formed a low near $0.3885. At the outset, the price is consolidating in a range and recently climbed above the 23.6% Fib retracement level of the last slide from the $0.4113 high to $0.3885 low.

However, the $0.3990 and $0.4000 levels are acting as resistances. Besides, the 50% Fib retracement level of the last slide from the $0.4113 high to $0.3885 low is acting as a resistance.

More importantly, there is a contracting triangle forming with resistance near $0.3965 on the same chart. If there is an upside break above the triangle resistance and $0.4000, ripple price might start a fresh increase towards the $0.4110 zone.

If there are more gains, the price could even break the $0.4220 resistance area. On the flip side, if there is a downside break below the $0.3910 support area, the price could trim gains.

An immediate support is near the $0.3885 level, below which the price will most likely move back towards the $0.3820 support area. Overall, ripple price seems to be consolidating gains and it could either continue higher above $0.4000 or decline back towards the $0.3820 level.

The market data is provided by TradingView, Bitfinex.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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