Ripple price reversed sharply and surged above the $0.3140 resistance level. XRP/USD is currently correcting lower, it is likely to resume upsides above the $0.3225 resistance.

  • Ripple price rallied recently above the $0.3140 and $0.3200 resistance levels.
  • This week’s crucial bearish trend line was breached with support at $0.3110 on the 30-minute chart.
  • XRP price is currently trading inside a bullish flag pattern with resistance at $0.3220.

Ripple Price

Ripple Price Analysis

In the past few days, we saw a steady drop below $0.3200 in ripple price. XRP even broke the $0.3100 support before buyers took a stand near $0.3045. Recently, there were strong bullish moves in bitcoin, Ethereum, binance coin, EOS, litecoin and other altcoins, which helped ripple in gaining pace above the $0.3140 resistance level.

Ripple Price Analysis XRP Prediction

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair broke the $0.3140 and $0.3150 resistance levels to move into a positive zone. There was even a close above the $0.3140 resistance and the 25 simple moving average (30-minute chart).

Moreover, this week’s crucial bearish trend line was breached with support at $0.3110. The pair rallied above the $0.3200 barrier and traded as high as $0.3254. Later, it started a downside correction and traded below the $0.3200 support.

There was a break below the 23.6% Fib retracement level of the latest recovery from the $0.3045 low to $0.3254 high. At the outset, it seems like the price is trading inside a bullish flag pattern with resistance at $0.3220.

On the downside, the main support is near the $0.3140 level. It also coincides with the 50% Fib retracement level of the latest recovery from the $0.3045 low to $0.3254 high.

Therefore, if the price corrects further lower, it is likely to find a strong buying interest near the $0.3140 level. On the upside, the price must break the bullish flag resistance at $0.3220 to resume its upward move. The next key resistance is near $0.3250, above which ripple price could accelerate towards the $0.3400 level. Any further gains could lead XRP price towards the $0.3500 resistance zone.

The market data is provided by TradingView, Bitfinex.



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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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