Ripple price declined recently towards the $0.4000 support. XRP/USD recovered nicely and is trading above the $0.4170 range support.

  • Ripple price jumped back above the key support at $0.4170.
  • XRP/USD broke a short-term triangle with resistance at $0.4135 on the 30-minute chart.
  • The price could move further higher, but the $0.4620 resistance could stop gains.

Ripple XRP Price

Ripple Price Analysis

Recently, ripple price made a few attempts to break the $0.4295-0.4300 resistance area, but it failed. The price started a downside move and broke a contracting triangle support at $0.4250.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair declined sharply and broke an important range support at $0.4170. It even declined below the $0.4100 level and the $0.4050 levels.

However, the $0.4000 support area played its part and defended more losses. A low was formed at $0.3983 and later the price started an upside move. It climbed higher and broke the $0.4150 resistance and the 25 simple moving average (30-minute).



During the climb, there was a break above a short-term triangle with resistance at $0.4135 on the same chart. Moreover, the price cleared the 61.8% Fib retracement level of the recent decline from the $0.4287 high to $0.3983 low.

It seems like the price is back in the same range above the $0.4170 support. On the upside, there is a strong resistance near the $0.4600 and $0.4620 levels. Buyers need to surpass these resistances to open the doors for a larger upward wave towards the $0.4800 level.

In the mentioned case, the price may even trade towards $0.5000 level and the 2.236 Fib extension level of the recent decline from the $0.4287 high to $0.3983 low.

On the other hand, if ripple price fails again to break the $0.4600-0.4620 resistance zone, there could be a fresh decline. On the downside, the range support near the $0.4170 level holds the key. Below this, the XRP/USD pair may possibly revisit the $0.4000 support area in the near term.

The market data is provided by TradingView, Bitfinex.

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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