Ripple price failed to surpass the $0.4000 resistance and declined below $0.3800. XRP/USD is currently trading in a range above the $0.3530 and $0.3350 support levels.

  • Ripple price struggled to surpass the $0.3980 and $0.4000 resistance levels.
  • There was a break below a connecting bullish trend line with support at $0.3780 on the 30-minute chart.
  • XRP price is currently holding the $0.3530 and $0.3350 support levels.

Ripple XRP Price

Ripple Price Analysis

Yesterday, there was a minor recovery above the $0.3700 level in ripple price. Buyers pushed the price above the $0.3800 level, but they struggled to clear the $0.3980 and $0.4000 resistance levels.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair traded as high as $0.3989 and later started a downside move. It broke the $0.3800 support and settled below the 25 simple moving average (30-minute).

During the decline, there was also a break below the $0.3700 level and the 50% Fib retracement level of the last wave from the $0.3290 low to $0.3989 high. Moreover, there was a break below a connecting bullish trend line with support at $0.3780 on the same chart.

The price tested the $0.3530 support where buyers emerged. An intraday low was formed at $0.3460 and later the price bounced back above $0.3530. It tested the $0.3700 level, which acted as a resistance along with the 25 simple moving average (30-minute).

Furthermore, the 50% Fib retracement level of the recent decline from the $0.3989 high to $0.3460 low also acted as a resistance. At the moment, the price is consolidating above the $0.3530 support, with a minor bullish angle.

To initiate a decent upward move, the price must move above the $0.3650 level, a bearish trend line, and finally $0.3700. However, the main hurdles for buyers are near $0.3860 and $0.3900, above which the price could test the $0.4000 barrier.

Overall, ripple price is currently consolidating above the $0.4530 support. If there are more declines, XRP could test the next major support at $0.3350.

The market data is provided by TradingView, Bitfinex.

Posted by Latika Mehrotra

Passionate about technology and science. Pursuing Doctorate in the field of Data Mining, Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


All content on Blockonomi.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.

Leave a reply

Your email address will not be published. Required fields are marked *