Ripple (XRP) Short-Term Price Anchors on $0.3000, Will the Support Hold?

Ripple has bullish fundamentals. However, prices are mostly ranging with key support at $0.3000. As long as prices are above H1 2019 level, bulls have a chance.

Ripple Key Highlights

  • Ripple (XRP) is changing hands at $0.3087, sliding 4.1 percent in the last week
  • In the daily chart, XRP prices are consolidating. Because of this, a triangle has formed above $0.3000.
  • The Stochastic indicator on the 4-HR chart is bullish and turning from the oversold territory
  • XRP could rally if prices close above the 20-day moving average on the daily chart

Ripple Price Analysis

Ripple (XRP) Live 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

Earlier today, the XRP price edged to $0.3125 before falling sharply to $0.3060 as sellers liquidated at better prices. The sell-off brought the cryptocurrency back to $0.3087 at the time of writing.

All the same, the general momentum is bullish. According to the Bollinger Bands indicator on the daily chart, the XRP price is bound between $0.3400 and $0.2947.

Additionally, the Stochastic indicator on the 4-HR chart suggests that buyers are control over the immediate term.

At the time of press, XRP is changing hands at $0.3087, as per data from Bitfinex

4-HR Chart

Ripple XRP

As long as Ripple (XRP) prices are trending below above $0.30, then it can be considered bullish in the immediate term.

Nonetheless, XRP prices are consolidating below the 50-period moving average. The longer the accumulation, the stronger the expected break out.

Supportive of buyers, the stochastic indicator in the second chart has a buy signal and turning from the overbought zone.

Besides, there is a Bollinger Band squeeze mainly because of the low XRP price volatility of the last three days.

Lastly, XRP prices are rebounding from the lower Bollinger Band and printing higher, away from the primary support. This is indicative of demand, further cementing the significance of $0.3000.

Daily Chart

Although bullish in the 4HR-chart, candlestick arrangements in the daily chart favor sellers. There are hints that the XRP price may drop, confirming losses of July 10 and July 14.

Trending below the 50-period moving average, XRP is trading in a bearish breakout pattern against the USD. Nonetheless, the reaction at $0.3000 could be an opportunity for buyers to fine-tune their entries.

Meanwhile, the XRP price is mainly consolidating. Because of this, a triangle has formed. Consequently, there is a chance that the price may drop to $0.25000 in a bear trend continuation pattern. It is a possibility that is mostly dependent on the strength of the bear break out below $0.3000.

Therefore, for buyers to be in control, prices must surge above the 20-period moving average on the daily chart.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Dalmas N
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis.

[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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,272FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today