Ripple Price Analysis: Can XRP/USD Buyers Keep The Uptrend Going?

Ripple price is trading nicely above the $0.2300 and $0.2335 support levels. XRP to USD is likely to surge again if it clears the $0.2405 and $0.2415 resistance levels.

Key Takeaways: XRP/USD

  • Ripple price declined recently from the $0.2550 high, but it found support near $0.2235 against the US Dollar.
  • XRP/USD is currently struggling to clear $0.2400 and a major bearish trend line on the 2-hours chart (data feed from Bitstamp)
  • Bitcoin price is also facing a strong resistance near the $8,750 and $8,800 levels.

Ripple Price Analysis

After a strong rally, ripple price faced sellers near the $0.2550 area. As a result, XRP to USD started a downside correction and traded below the $0.2420 and $0.2400 levels.

Ripple Price Analysis

Looking at the 2-hours chart, ripple price even settled below $0.2400 and the 50 simple moving average (2-hours, purple). However, the bulls took a stand near the $0.2235 area.

A low is formed near $0.2237 and the price recently recovered above $0.2300 and $0.2350. It even spiked above $0.2400 and the 50 simple moving average (2-hours, purple). At the outset, it seems like ripple price is currently struggling to clear $0.2400 and a major bearish trend line on the 2-hours chart.

If there is a clear break above the $0.2405 and $0.2415 resistance levels, there are chances of more upsides in the near term. The next major resistance is near the $0.2500 and $0.2520 levels.

Any further gains might start a decent increase towards the $0.2560 level. On the downside, an initial support is near the $0.2325 level since it is close to the 50% Fib retracement level of the recent upward move from $0.2237 to $0.2414.

The main support on the downside is near the $0.2300 level. Besides, the 61.8% Fib retracement level of the recent upward move from $0.2237 to $0.2414 is also near $0.2300.

If ripple price fails to stay above the $0.2300 support area, there is a risk of more downsides. In the mentioned case, the price could extend its decline towards the $0.2235 support area.

Live Ripple (XRP) Price:

1 XRP/USD =$0.1765 change ~ -0.78%

Coin Market Cap

$7.64 Billion

24 Hour Volume

$133.98 Million

24 Hour VWAP

$0

24 Hour Change

$-0.0014

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Aayush J
Aayush is a Senior Cryptocurrency Strategist and Forex Expert who has a decorated history of over a decade in FinTech Markets and IT industries. As a financial markets contributor and observer, his primary focus is on specializing and sharpening his skillset inside the Technical Analysis arena and is well known for his informative and entertaining analytical skills inside the Bitcoin, Etheruem and crypto asset markets.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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