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XRP Price Analysis: Where is Ripple heading towards?

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Janet F. Sanchez
Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

Technical Indicators:

Support Level: $0.3080

Resistance Level: $0.3170

 

Key Points:

  • XRP price stayed over the major support of $2970 to jumped upwards against the US dollar.
  • XRP price gained bullish force to move over the $0.3030 resistance level.
  • XRP price even broke the bearish pattern line that was formed around $0.3030.
  • However, the selling pressure was increased around $0.3170 from where the price started to correct downwards.

XRP price was able to recover against both bitcoin and USD. XRP moved above the major resistance around $0.3080 which has now turned into a support level.

XRP Price Analysis

After a downward momentum, XRP started to rise again moving above $0.300. Buyers were in full force and were able to break the major resistance around $0.3030.

The bulls were able to break the bearish pattern line that was formed yesterday with resistance around $0.3030. XRP price was successful in closing over the 100 hourly SMA and resistance of $0.3080. XRP price even broke the next resistance around $0.3150 but soon the selling pressure increased around $0.3170 which led to a downward correction.

XRPUSD Price Chart
XRPUSD Price Chart

Ripple price is currently going through a downward correction below $0.3150. However, the overall momentum is still bullish as a lot of buyers are placed on the downside and major support is formed around $0.3080 and the 100 hourly SMA. Even if the current support is broken somehow, the next support lies close to $0.3070. If XRP is able to hold the current position, it will soon start an upward move over $0.3150. If Ripple price is able to break the current resistance around $0.3170, XRP price

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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