Ripple Price Analysis: XRP/USD In Strong Uptrend, Dips Supported


Ripple price climbed to a new 2020 high at $0.2610 before correcting lower. XRP to USD is now trading above the key $0.2450 support area, with positive signs.

Key Takeaways: XRP/USD

  • Ripple price is trading in a strong uptrend above the $0.2450 support area against the US Dollar.
  • XRP/USD is following a crucial bullish trend line with support near $0.2460 on the 2-hours chart (data feed from Bitstamp)
  • Bitcoin price is currently correcting lower and it may soon test the $9,000 support.

Ripple Price Analysis

After a successful break above the $0.2420 resistance, ripple price extended its rise. XRP to USD climbed above the $0.2500 and $0.2580 resistance levels. Moreover, there was a close above the $0.2500 level and the 50 simple moving average (2-hours, purple).

Ripple Price Analysis

Looking at the 2-hours chart, ripple price traded to a new 2020 high at $0.2610. Recently, there was a downside correction below the $0.2600 and $0.2580 levels.

Besides, the price spiked below the 50% Fib retracement level of the recent increase from $0.2353 to $0.2610. However, ripple price is now approaching the key $0.2450 and $0.2465 support levels.

Besides, the 50 simple moving average (2-hours, purple) is providing support above $0.2450. More importantly, XRP is following a crucial bullish trend line with support near $0.2460 on the 2-hours chart.

The 61.8% Fib retracement level of the recent increase from $0.2353 to $0.2610 is also near the $0.2451 level. Therefore, dips remain well supported on the downside near the $0.2450 level.

If there is a downside break below the trend line, $0.2450, and the 50 simple moving average (2-hours, purple), then there is a risk of a large decline.

The next major support is near the $0.2290 level since it coincides with the 1.236 Fib extension level of the recent increase from $0.2353 to $0.2610.

Conversely, ripple price could stay above the trend line and the $0.2450 support. In the mentioned case, the bulls are likely to aim a fresh increase above the $0.2560 resistance levels. The next hurdle is near the $0.2610, followed by $0.2720.

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

$0.01

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