EagleFX

Ripple price formed a solid support near the $0.3050 and bounced back. XRP must break the $0.3150 resistance to climb further higher towards the $0.3200 resistance.

  • Ripple price traded higher and broke the $0.3100 resistance area.
  • There was a break above a significant bearish trend line with resistance at $0.3075 on the 30-minute chart.
  • XRP remains supported on dips and it is likely to break the $0.3150 and $0.3160 resistance levels.

Ripple XRP Price

Ripple Price Analysis

After trading as low as $0.3010, ripple price started a short term upside correction. XRP/USD gained traction, settled above $0.3050, formed a solid base near $0.3050, and finally climbed above the $0.3100 resistance level.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair gained traction after it broke the $0.3080 resistance and the 25 simple moving average (30-minute). There was a clear break above the 61.8% Fib retracement level of the last drop from the $0.3159 high to $0.3010 low.

More importantly, there was a break above a significant bearish trend line with resistance at $0.3075 on the same chart. The pair surpassed the $0.3110 level and tested the next key resistance area near $0.3140-0.3150.

Later, there was a downside correction below the level $0.3110. However, the 50% Fib retracement level of the recent wave from the $0.3010 low to $0.3142 high acted as a support.


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The price is currently placed nicely above the $0.3110 support and the 25 simple moving average (30-minute). However, a proper break above the $0.3140 and $0.3150 resistance levels is required for an upside acceleration towards the $0.3200 resistance.

On the other hand, if there is a fresh drop, the $0.3110 support and the 25 simple moving average (30-minute) are likely to act as strong supports. Below $0.3100, the price could revisit the main support at $0.3050.

Overall, ripple price is gaining momentum above the $0.3110 level, with positive moves. Should XRP to USD clear the $0.3150 resistance, the next stop for buyers could be $0.3200.

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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