Crypto Currency News l Bitcoin News l Altcoin News

What Is Ripple’s Next Move? Here are the New Goals of XRP

Ripple (XRP) extended its decline and tested the $ 0.2800 support against the US dollar.

1 3,512

What Is Ripple’s Next Move? Here are the New Goals of XRP.

According to popular analyst Aayush Jindal, as long as the XRP price is above the $ 0.2800 support, it will start a slow and steady uptrend.

  • Ripple failed to stay above the $ 0.2850 support and tested the $ 0.2800 zone against the US dollar.
  • The price slid to a new weekly low at $ 0.2790 and is now well above the 100 hourly SMA.
  • There was a break above a key bearish trend line with resistance near $ 0.2900 on the hourly chart of the XRP / USD pair (data source from Kraken).
  • The pair is currently struggling to gain bullish momentum above $ 0.2905 and $ 0.2920.

Ripple fell below $ 0.30! What will happen now?

Ripple has seen a mostly bearish trend below $ 0.3000 in the last three sessions. XRP price did not even stay above the $ 0.2850 support and fell well below the 100 hourly simple moving average. A new weekly low was formed around $ 0.2790 and the price is currently rising. There was a break above the $ 0.2850 resistance. Moreover, there was a break above a key bearish trend line with resistance near $ 0.2900 on the hourly chart of the XRP / USD pair.

Ripple Price Charts
Ripple Price Charts

Ripple slid above the 23.6% Fib retracement level of the recent decline from $ 0.3274 to $ 0.2790. However, the bulls seem to be struggling to gain strength above the $ 0.2905 and $ 0.2920 resistance levels. If there is a clear break above the $ 0.2920 resistance, the price could rise towards the $ 0.3000 resistance. 

Here are the critical levels Ripple can see in the short term.

There seems to be a major hurdle forming near the $ 0.3000 level and the 100 hourly SMA. The 50% Fib retracement level of the last drop from $ 0.3274 to $ 0.2790 is also near $ 0.3030. A successful close above $ 0.3000 and $ 0.3020 could open the doors for a new increase. In this case, the price could rise to the levels of $ 0.3120 and $ 0.3155.

Famous Analyst: This Massive Bull Flag Can Fly Ripple for $ 1!

The main support is clearly near the $ 0.2800 zone, according to the analyst. If Ripple fails to break above $ 0.2920, there is a risk of falling below $ 0.2800. The daily close below the $ 0.2800 support level may open the doors for a larger drop. The next major support could be $ 0.2650 and $ 0.2620, according to the analyst.

Current view of Ripple price with technical indicators

Hourly MACD: The MACD is slowly entering the bullish zone for the XRP / USD pair.

Hourly RSI (Relative Strength Index): The RSI for XRP / USD is just above the 40 level.

Major Support Levels: $ 0.2820, $ 0.2800 and $ 0.2750.

Major Resistance Levels: $ 0.2905, $ 0.2920 and $ 0.3000.

1 Comment
  1. […] Networks CEO’su Hugo Philion, XRP yatırımcılarının varlıklarını 1:1 oranda Spark token almak için kullanabileceklerini […]

Leave A Reply

Your email address will not be published.