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Ripple price surged above the $0.3300 resistance recently after the Coinbase listing. XRP/USD failed to break the $0.3480-0.3500 resistance and it is currently correcting lower.

  • Ripple price gained bullish momentum and broke the $0.3100 and $0.3300 resistances.
  • There is a possible contracting triangle forming with resistance near $0.3345 on the 30-minute chart.
  • XRP is likely to find a strong buying interest near the $0.3150 and $0.3100 support levels.

Ripple Price

Ripple Price Analysis

Yesterday, we discussed a few important resistances for ripple price near the $0.3200 level. XRP/USD initially struggled to break the $0.3200 barrier, but after the Coinbase listing announcement, buyers gained pace and the price surged above the $0.3300 resistance level.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair broke a few important resistance levels near $0.3300 and $0.3320 to set the stage for more gains. Later, the price broke the $0.3400 and $0.3450 levels, but it failed to test the last swing high near $0.3514.

A high was formed at $0.3477 and later the price started a downside correction. It broke the $0.3400 support and the 50% Fib retracement level of the recent rally from the $0.3041 low to $0.3474 high.

There was also a break below the $0.3300 level and the 25 simple moving average (30-minute chart). However, there is a strong support visible near the $0.3225 and $0.3200 levels. Besides, the 61.8% Fib retracement level of the recent rally from the $0.3041 low to $0.3474 high is also near the $0.3207 level.


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More importantly, it seems like there is a possible contracting triangle forming with resistance near $0.3345 on the same chart. Therefore, if the price corrects further, it could find buyers near the $0.3200 and $0.3145 support levels.

The current price action is slightly bearish since ripple price trimmed more than 50% of the recent gains. Having said that, there are chances of a fresh rally as long as XRP price is trading above the $0.3145 support level. On the upside, the main hurdles are near the $0.3340 and $0.3400 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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