Ripple price is trading nicely above the $0.3560 support with a bullish angle. XRP must break the $0.3780 resistance to revisit the key $0.3950 hurdle.

  • Ripple price formed a support base near $0.3560 and later moved higher above $0.3640.
  • There is a major bearish trend line in place with resistance at $0.3770 on the 30-minute chart.
  • XRP must clear the $0.3770 and $0.3800 resistance levels to trade towards $0.3950.

Ripple XRP Price

Ripple Price Analysis

Recently, there was a slow and steady decline from the $0.3950 and $0.4000 resistance levels in ripple price. XRP declined and traded below the $0.3800 support level to move into a bearish zone.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair even broke the $0.3650 support and traded as low as $0.3561. Later, a support base near $0.3560 and the price started an upward move. It broke the $0.3650 resistance and the 23.6% Fib retracement level of the last decline from the $0.3896 high to $0.3561 low.

Moreover, there was a close above the $0.3680 level and the 25 simple moving average (30-minute). However, the price is currently struggling to clear the $0.3770-0.3780 resistance zone.

Besides, the 61.8% Fib retracement level of the last decline from the $0.3896 high to $0.3561 low is also acting as a solid resistance for buyers. Therefore, a proper break and close above the trend line and $0.3780 is needed for more gains.

The next resistance is at $0.3800, above which the price may continue to move higher towards the $0.3950 and $0.4000 resistance levels. Should there be a break above $0.4000, the price may continue to accelerate towards the $0.4200 resistance.

Overall, ripple price seems to be preparing for an upside break above the $0.3800 resistance. On the other hand, if there is a downside move in XRP, the price may find support near $0.3650 or $0.3620. Below this last, there are chances that the price may revisit the $0.3560 support base. The main support is positioned at $0.3550, below which the price could drop to $0.3300.

The market data is provided by TradingView, Bitfinex.



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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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