XRP to USD: Ripple Price Analysis, Ready for gains?

Categories -
ADVERTISEMENT

Technical Indicators:

Support Level: $0.3000

Resistance Level: $0.3100

 

Key Points:

  • Ripple price recently broke downwards following bitcoin and ethereum.
  • XRP tested the support around $0.2920 and later corrected upwards above $0.30000 resistance.
  • Ripple’s upward momentum was also able to break through the bearish pattern which was being formed with resistance around $0.3010 on the hourly chart.
  • Ripple price gained force and quickly moved over $0.3020 resistance level.

 

Ripple Price Analysis:

Summary: Ripple price recently crashed to a weekly low of $0.2913 and later corrected upwards. XRP was able to gain bullish momentum above $0.3000.

Ripple price declined sharply yesterday below $0.3000 support level. XRP tested the $0.2920 support level before starting to correct upwards. Buyers were able to push the price upwards over $0.3000.

The buying pressure increased bullish momentum and the price soon moved over $0.3020 resistance level. Also, the bearish pattern line which was being formed on the hourly chart was also broken. Currently, XRP is in a bullish momentum trying to move upwards.

There might be a downward correction, however, Ripple price might test the next resistance soon and if it is able to break through the $0.3060 and $0.3080 resistance level, it will move into a bullish zone.

XRPUSD Price Chart 27 March
XRP/USD Price Chart 27 March

The chart shows that XRP was able to correct upwards after falling up to $0.2913. Ripple gained bullish momentum after moving over $0.3000 level. However, the buyers really need to break through $0.3060, $0.3080 and $0.3100 resistance levels in order to turn the overall momentum bullish.

ADVERTISEMENT
Avatar
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.

Leave a reply

Please enter your comment!
Please enter your name here