Ripple price dipped below the $0.4000 support level, but it remained well supported near the $0.3820 and $0.3800 levels. XRP is likely to climb above the $0.4000 and $0.4200 resistance levels.

  • The price is currently consolidating above the $0.3800 support area.
  • XRP is trading below a short term bearish trend line with resistance at $0.3930 on the 30-minute chart.
  • Ripple price is likely to climb above the $0.4000 and $0.4050 resistance levels.

Ripple Price

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Ripple Price Analysis (XRP to USD)

Recently, there was a fresh dip in ripple price from the $0.4100 swing high. XRP/USD traded below the $0.3920 support area and tested the main $0.3800 support area. A swing low was formed at $0.3801 and the price climbed above $0.4000.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair traded as high as $0.4056 and recently started a minor decline. It broke the $0.4000 support level and the 50% Fib retracement level of the recent wave from the $0.3801 low to $0.4056 high.

The price declined below the $0.3920 support and the 25 simple moving average (30-minute chart). However, the $0.3900 level is acting as a support along with the 61.8% Fib retracement level of the recent wave from the $0.3801 low to $0.4056 high.

On the downside, there are strong supports formed near $0.3900 and $0.3800. There is also a bullish trend line in place with support at $0.3840 on the same chart.

As long as the price is above the recent low of $0.3801, it is likely to move higher towards the $0.4000 level. On the upside, there is a short term bearish trend line in place with resistance at $0.3930 on the same chart.

If there is an upside break above the trend line and $0.4000, the price is likely to accelerate higher in the near term.

An immediate resistance above $0.4000 is at $0.4050. If ripple price continues to move higher, there are chances of more gains above the $0.4100 and $0.4120 levels. On the downside, a break below the $0.3800 support could open the doors for more losses towards $0.3600.

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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