Ripple price started a downside correction after a sharp rally above $0.3200. XRP remains well bid on the downside near the $0.3050 and $0.2990 support levels.

  • Ripple price faced sellers near the $0.3250-0.3260 area and corrected lower.
  • There is a declining channel in place with resistance at $0.3140 on the 30-minute chart.
  • XRP might continue to find support near the $0.3040, $0.3000 and $0.2990 supports.

Ripple XRP Price

Ripple Price Analysis

Recently, there was a solid upward move in bitcoin and Ethereum, dragging ripple price above the $0.3100 resistance. XRP rallied above the $0.3180 and $0.3200 resistance levels before sellers appeared near the $0.3250-0.3260 area.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair traded as high as $0.3259 and later started a downside correction. It traded below the $0.3220 and $0.3110 support levels. There was even a break below the $0.3060 support and the 25 simple moving average (30-minute).

However, the $0.3040 support area acted as a strong support and the price bounced back above $0.3060 and the 25 simple moving average (30-minute). There was a break above the 50% Fib retracement level of the recent decline from the $0.3214 high to $0.3036 low.


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The upward move was capped by the $0.3150 level and the 61.8% Fib retracement level of the recent decline from the $0.3214 high to $0.3036 low.

More importantly, there is a declining channel in place with resistance at $0.3140 on the 30-minute chart. The price is currently trading well below the $0.3150 resistance level, with a minor bearish angle.

To start a fresh upward move, the price must break the $0.3140 and $0.3150 resistance levels. The next key resistance area is near the $0.3200 and $0.3210 levels. On the other hand, if there is an extended decline, the $0.3040 and $0.3000 supports could play an important role.

Should ripple price fail to stay above the $0.2990 support, there could be a sharp U-turn in the near term towards the $0.2900 and $0.2910 levels.

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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