Ripple Price Analysis: A Single Spike Pushed XRP Above $0.30, Consolidates There

  • Ripple price climbed above $0.30 in the later part of yesterday, currently battling with barriers above $0.3020
  • XRP is above its 5-day SMA of $0.3013, though it still carries a selling pressure
  • Ripple has formed a decent support level near $0.29, the coin has traced a bullish trendline, while it also had a short-term bearish trendline

Ripple (XRP) has started an upward price movement from $0.2952 over a day against the U.S Dollar. Meanwhile, the Bitcoin price is hovering around $11400 at present.

XRP coin had a mild price rise near $0.30 when the coin opened yesterday. But after that, the Ripple coin remained in the price range around $0.29 for quite a while. Ripple price also traced a dip near $0.2952, which is where the coin seems to have a support level. Till 16:28 UTC, The coin was below $0.29 and then the coin jumped to $0.3057 with an increase of 3.55%. The coin started a bullish trendline from here.

Ripple Price Analysis: A Single Spike Pushed XRP Above $0.30, Consolidates There

However, XRP price had witnessed a downward correction from $0.3053 which has traced a bearish trendline there. The price of the coin, at present, is in efforts to maintain its price above $0.30. At 04:07:14 UTC, the coin is at $0.3025.

XRP/USD Price Chart By TradingView:

Ripple Price Chart
Ripple Price Chart by TradingView

XRP’s current price is 18.55% lower than its 100-day SMA of $0.3714, although, the coin is just above its 5-day SMA. The coin needs a strong boost above its 50-day SMA to continue an uptrend.

Ripple Price Analysis: A Single Spike Pushed XRP Above $0.30, Consolidates There

Ripple is currently struggling to clear resistance above $0.3020, while the coin is already above major resistance near $0.3000. XRP needs a strong price rally above $0.34 to recover its price loss fully.

Ripple Price Prediction & Technical Indicators:

MACD chart for XRP/USD shows how it is heading for a bearish crossover. RSI for the coin is near 50, showing stability. XRP may see resistance at $0.3064, $0.3108 and $0.3156 while its support levels can be at $0.2972, $0.2924 and $0.288.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

Related Articles

Back to top button