Ripple price is slowly moving higher towards the $0.3820 and $0.3850 resistances. XRP remains supported on dips near the $0.3725 and $0.3660 levels.

  • Ripple price tested the $0.3660 support recently and later recovered above $0.3725.
  • There is a crucial bullish trend line formed with support at $0.3725 on the 30-minute chart.
  • XRP is likely to move higher towards the $0.3820 and $0.3850 resistance levels.

Ripple XRP Price

Ripple Price Analysis

After a short term downside correction, ripple price found support near the $0.3660 level. XRP recovered recently and moved above the $0.3725 and $0.3780 resistance levels.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair even traded towards the $0.3820 level and settled above the 25 simple moving average (30-minute). A high was formed at $0.3825 recently and the price corrected below the $0.3800 level.

Sellers pushed the price below the $0.3780 level and the 50% Fib retracement level of the last wave from the $0.3665 low to $0.3825 high. However, the decline was protected by the $0.3700 support and later the price bounced back above $0.3725 and the 25 simple moving average (30-minute).

Moreover, the 76.4% Fib retracement level of the last wave from the $0.3665 low to $0.3825 high acted as a support. Finally, there is a crucial bullish trend line formed with support at $0.3725 on the same chart.

The price is currently trading nicely above $0.3725 and the 25 SMA. If there is a downside break below the trend line, the price may test the key $0.3660 support area. Further below $0.3660, sellers are likely to take control for a push towards the $0.3550 level.

On the other hand, if the price continues to move higher, it could breach the $0.3820 and $0.3825 levels. The next major resistance is near the $0.3840 level, above which ripple price will most likely accelerate towards the $0.4000 hurdle in the coming sessions. The overall price action and technical structure is positive for XRP as long as it stays above the $0.3660 support area.

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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