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Business

Ripple (XRP) Primed Primed For More Upsides: $ 0.3500 On Cards




  • The Ripple Prize started a new growth over $ 0.3100 and $ 0.3200 resistance levels against the US dollar.
  • The price tested the area $ 0.3400 and was recently corrected under $ 0.3300 and $ 0.3250.
  • There is a large bullish trend line that provides support near the $ 0.3100 level of the hourly map of the XRP / USD pair (data source from the Kraken).
  • The pair could soon break the $ 0.32020 resistance level and climb higher toward $ 0.3400 again.

The Ripple Prize started a strong increase over $ 0.3200 against US dollars, plus adjusted higher against bitcoin. The XRP remains well over $ 0.3100 and is likely to resume its upward movement.

Ripple Price Analysis

This week, there was a strong upward movement in mug prices over the $ 0.31[ads1]00 opposition to the US dollar. The XRP / USD pair followed bitcoin and increased over $ 0.3200 and $ 0.3220 resistance levels. The price even broke the $ 0.3350 level and surpassed the 100 hour simple moving average. The bulls pushed the price against the $ 0.400 level before starting a downside correction. There was a sharp drop below $ 0.3300 and $ 0.3200 level. The price revised the previous breakout zone near $ 0.3040 and $ 0.3060.

A turn low was formed at $ 0.3050 recently and the price is now moving higher. It already broke the 50% Fib retracement level of the last drop from $ 0.3316 high to $ 0.3050 low. However, $ 0.3200 and $ 0.3220 levels appear as obstacles. The 61.8% Fib Claw level of the last drop from $ 0.3316 high to $ 0.3050 low also acts as a strong resistance to the bulls. A successful close over $ 0.3220 barrier is likely to start a new growth. The next resistance is close to $ 0.3300, above which the price may increase toward $ 0.400 resistance area.

On the downside, many support over $ 0.3050 and $ 0.3080 levels. There is also a large bullish trend line that provides support near the $ 0.3100 level of the XRP / USD pair hourly chart. If there is a downside correction below $ 0.3150, the price can test the trendline support.

 Ripple Price Analysis XRP Chart

Looking at the chart, the ripple price is clearly supported over the $ 0.3050 level and the 100 hour SMA. As long as the price is over $ 0.3050, it will likely start a fresh increase over $ 0.3220 and $ 0.3300 in the upcoming sessions.

Technical Indicators

Monthly MACD – MACR for XRP / USD is currently moving in the bullish zone, with positive signs.

Time RSI (Relative Strength Index) – The RSI for XRP / USD is currently just over 50 levels, with a positive bias.

Greater support levels – $ 0.3150, $ 0.3100 and $ 0.3050. [19659008] Large Resistance Levels – $ 0.3220, $ 0.3300 and $ 0.3400.



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