Technical Indicators:
Support Levels: $0.3650, $0.3550, $0.3500
Resistance Levels: $0.3750, $0.3800, $0.3900, $0.4000
Key Points:
- Ripple price surged massively breaking above $0.3150, $0.3200 and $0.3300 resistance levels.
- XRP was even able to break and settle above the $0.3500 resistance level and even tested the $0.3750 resistance.
- Ripple price recorded a high at $0.3778 and is currently gaining force in order to move towards $0.4000 and $0.4200 levels.
Ripple Price Analysis:
SUMMARY: Ripple price gained bullish momentum over the $0.3500 level. XRP is currently trading well above $0.3650 and moving towards $0.3750 and $0.3800 levels.
After being able to close above the $0.3000 resistance level, Ripple price started to surge massively following the bitcoin surge. The bulls were able to break above $0.3100, $0.3200, $0.3300 and even $0.3500 resistance levels very easily with XRP gaining more than 21% in the last 24 hours. The major bull run started after XRP closed and settled above $0.3200 and the 100 hourly SMA.
Ripple price soon moved over the $0.3550 and $0.3600 resistance levels and tested and moved over the $0.3750 resistance level to record a high at $0.3778. At this point, the sellers started to emerge and XRP corrected a few points downwards. However, it is currently well supported around $0.3650 and $0.3550.
On the downside below $0.3550, Ripple price is well supported at $0.3400 and $3200 levels. The current resistance lies around $0.3750 and $0.3800 above which XRP will most likely test the $0.4000 and $0.4200 levels.
The chart shows that XRP is clearly in a bullish momentum over the $0.3500 support level. There are high chances for Ripple price to soon test and move above $0.4000 and $0.4200 levels.
