Ripple Price Analysis: XRP Ready for the Major Bull Run?

5 months ago

Technical Indicators

Support Level – $0.3100

Resistance Level – $0.3260

  • Ripple price moved into a bullish zone above $0.3100 against the US dollar.
  • Buyers were able to pick up force over the $0.3100 and $0.3150 resistance levels before sellers showed up around $0.3290.
  • There is a bullish pattern line formed with support close $0.3140 on the hourly chart of the XRP/USD.
  • The price is as of now redressing lower, yet it stays supported above $0.3160 and $0.3140.

Ripple price bounced above key resistance levels against the US Dollar and bitcoin. XRP/USD is presently exchanging with a positive inclination and it could keep on ascending towards $0.3300 and $0.3400.

Ripple Price Analysis

Ripple price picked up force above $0.3050 against the US Dollar. The XRP/USD pair began an uptrend and broke the $0.3000 and $0.3060 resistance levels. The pair moved into a bullish zone over the $0.3100 resistance and the 100 hourly SMA. Buyers took control over the $0.3100 level, bringing about increases over the $0.3150 and $0.3200 resistance levels. The price exchanged near the $0.3300 resistance and another weekly high was formed at $0.3292.

Afterward, there was a sharp drawback rectification beneath $0.3260 and $0.3240. The price tested the $0.3160 support zone. Prompt support is close to the $0.3150-0.3160 zone. There is a bullish pattern line formed with support close $0.3140 on the hourly chart of the XRP/USD pair.

Buyers are probably going to stand firm close to the $0.3160 and $0.3150 levels. In the event that there are extra decays, the price could test the $0.3110 support. The main support is close to the $0.3095-0.3100 zone which was the past resistance level. To the upside, resistance is at $0.3220, above which the price may ascend towards $0.3260.

XRPUSD Price Chart

Taking a look at the chart, Ripple price obviously moved into a bullish zone above $0.3100. In any case, buyers need to ensure decays beneath $0.3100. In the event that they come up short, the price may move in a bearish zone to $0.3000. This week, buyers could focus on the $0.3400 and $0.3500 resistance levels as long as the price is above $0.3095.

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