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.
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 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.
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.