Ripple Price Analysis: XRP/USD Could Continue Higher To $0.17

Ripple price is trading with a bullish angle above the $0.1560 resistance area. XRP to USD is likely to continue higher towards the 0.1700 and $0.1735 resistance levels.

Key Takeaways: XRP/USD

  • Ripple price is currently rising from the $0.1450 support area against the US Dollar.
  • XRP/USD is currently following a contracting triangle with resistance near $0.1660 on the 2-hours chart (data feed from Bitstamp)
  • Bitcoin price is also rising and it is now trading above the $6,550 resistance level.

Ripple Price Analysis

After retesting the $0.1450 support area, ripple price started a decent increase. XRP to USD gained pace and broke the key $0.1500 and $0.1550 resistance levels to move into a positive zone.

Ripple Price

Looking at the 2-hours chart, ripple price remained well bid above the $0.1550 level and the 50 simple moving average (2-hours, purple). Besides, there was a break above the 50% Fib retracement level of the key drop from $0.1760 to $0.1447.

It seems like ripple price is now following a contracting triangle with resistance near $0.1660 on the same chart. An initial resistance is near the $0.1640 level.

The 61.8% Fib retracement level of the key drop from $0.1760 to $0.1447 is also near the $0.1640 level to act as a resistance zone. If there is a break above the $0.1640 and $0.1660 resistance levels, the price could continue to rise in the coming sessions.

The next resistance is near the $0.1700 level, above which the bulls are likely to aim a test of the $0.1735 pivot level in the near term.

Conversely, ripple could fail to continue above the $0.1660 resistance level. In the mentioned case, the price could test the triangle support at $0.1600. If there is a downside break below the $0.1600 support is likely to accelerate its decline towards the $0.1520 level.

Any further losses may perhaps start an extended decline towards the $0.1450 support area. Overall, the current price action is positive above the $0.1600 level, but the price must break the $0.1660 level to set the stage for an extended rise in the coming sessions.

Live Ripple (XRP) Price:

1 XRP/USD =$0.2464 change ~ 2.46%

Coin Market Cap

$10.67 Billion

24 Hour Volume

$186.84 Million

24 Hour VWAP

$0

24 Hour Change

$0.0061

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Avatar
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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