Ripple Price Analysis: XRP above to break major resistance?

Technical Indicators:

Support Level: $0.3100

Resistance Level: $0.3200

 

Key Points:

  • Ripple price started a bullish momentum and moved above $0.3100 which has now turned into a support level.
  • Ripple price tested the $0.3200 resistance level but could not cross above $0.3198.
  • The price started a downward correction later but the support in the downside is quite strong which stopped further losses.
  • XRP is probably going to start accelerating more gains once it breaks the resistance around $0.3200.

Ripple price is clearly in a bullish zone. XRP could soon break the $0.3200 resistance in order to test the next major resistance around $0.3300.

 

Ripple Price Analysis

Ripple price recovered nicely after breaking the $0.3100 resistance level. The bullish momentum was able to break the $0.3120 resistance and the 100 hourly SMA. The price even tested the $0.3200 resistance level but the massive selling pressure around this point moved the price downwards after reaching a high of $0.3198.

As the price corrected downwards, the $0.3160 support was broken. However, the $0.3140 support proved strong and stopped further losses. The price was able to recover upwards and is currently trading nicely above $0.3160. XRP price could continue its upward move and soon break the $0.3200 resistance level to test the next resistance around $0.3300. However, if the current support is broken, the next support lies at $0.3080.

XRPUSD Price Chart
XRPUSD Price Chart

The chart shows that XRP price is currently in a bullish momentum trading nicely above $0.3100 support. The price might test the $0.3200 resistance level soon. However, if there is a downward break, the next major support and 100 hourly SMA lies at $0.3080 below which the momentum will turn bearish.

 

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4 comments

  1. I believe that once XRP hits .33 a coin that will set off one of the biggest investing frenzies to take Ripple way above the highest price of 3.08 set in 2017. I think it will drive above the 5.00 and maybe the 10.00 range within a few days of hitting .33 a coin. Go XRP bully your way up the charts!!!

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