Ripple price is following a solid uptrend above the $0.4300 support area. XRP could correct lower in the short term, but it is likely to climb above $0.4500 in the near term.

  • The price recently corrected lower sharply from the $0.4654 swing high.
  • XRP is currently following a major bullish trend line with support at $0.4340 on the 30-minute chart.
  • Ripple price could dip a few points, but the price is likely to break the $0.4500 resistance.

Ripple Price

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Ripple Price Analysis (XRP to USD)

Recently, there was a steady rise in ripple price above the $0.4500 resistance area. XRP/USD even broke the $0.4600 resistance and traded as high as $0.4654. Later, it corrected lower below $0.4600 and $0.4500.

Ripple Price Analysis (XRP to USD)

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair is clearly following a decent uptrend above the $0.4200 and $0.43000 levels. The recent downside correction took the price below the $0.4400 level, but the price found support near $0.4290.

A swing low was formed at $0.4292 and the price climbed above the $0.4300 and $0.4350 levels. The price moved above the 23.6% Fib retracement level of the recent decline from the $0.4654 high to $0.4292 swing low.

At the moment, the price is trading above the $0.4400 level and testing the 25 simple moving average (30-minute chart). It seems like the 50% Fib retracement level of the recent decline from the $0.4654 high to $0.4292 swing low is acting as a resistance.

On the upside, there is a connecting bearish trend line formed with resistance near $0.4500 on the same chart. If there is an upside break, the price could continue higher above $0.4600.

On the downside, there is a strong support formed near $0.4350. There is also a major bullish trend line with support at $0.4340 on the same chart. If there is a downside break below $0.4300, ripple price could start a major decline. In the mentioned bearish case, XRP price could test the $0.4200 support area in the near term.

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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