Ripple price surged towards the $0.5200 level and later reversed gains. XRP/USD is still placed above the key $0.4440 support with a bullish angle.

  • Ripple price rallied above the $0.5000 resistance before declining back below $0.4650.
  • XRP/USD is currently following a short-term declining channel with resistance at $0.4700 on the 30-minute chart.
  • The price could dip towards the $0.4440 support before buyers take back control.

Ripple XRP Price

Ripple XRP Price Analysis

Yesterday, we saw a nasty ride above the $0.4400 and $0.5000 resistance levels in ripple price. Buyers pushed the price above the $0.5200 level, but later the price declined sharply and trimmed most gains.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair traded as high as $0.5248 and later declined sharply below $0.5000 and $0.4750. During the slide, there was a break below the 50% Fib retracement level of the recent wave from the $0.3982 low to $0.5248 high.

However, the price found support near a major technical level at $0.4440. It represents the 61.8% Fib retracement level of the recent wave from the $0.3982 low to $0.5248 high.



Later, the price started consolidating losses and crawled above the $0.4500 level and the 25 simple moving average (30-minute). At the outset, the price is following a short-term declining channel with resistance at $0.4700 on the same chart.

There could be a minor dip towards the $0.4440 or $0.4400 support level before an upward move. On the upside, a break above the $0.4700 resistance is likely to clear the path for more gains towards the $0.5000 level.

The RSI on the 30-minute chart of XRP/USD already broke a bearish trend line, which means ripple price may possibly move higher sooner or later.

If there is a downside break below the $0.4400 support, the price could slide back towards the next key support at $0.4300 (the previous resistance). Overall, ripple buyers remain in control as long as the price is above the $0.4400 and $0.4300 support levels.

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.


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