Price Analysis

Ripple (XRP) Finally Initiates a Promising Bull-run; Reaches Above $0.1820

Is $0.20 an Easy Target for XRP to Hit?

  • Ripple has finally harnessed the market bulls with a firm hold today in response to Bitcoin’s bullish rally
  • XRP is testing resistance above $0.1820 while the coin has formed a few bullish candles; the surge seems promising enough this time
  • The way the XRP is firmly marching towards highs, $0.20 seems imminent; Currently, the coin is a little below its recent spike above $0.1830
  • Price levels below $0.1760 likely to act as active supports; the fib range between 61.80% to 100% may also come across as a reliable support area

It’s been more than a week since Bitcoin hadn’t hit the $7000 price mark, but in the last 24 hours, the bulls seem to have turned the tide! BTC price is already above $7000; yesterday too, it traced a close above $7000 for once.

Replicating the same move, XRP has also traded above $0.18 twice over the last 24 hours. It was just yesterday when we saw how Ripple is desperately approaching the $0.18 price mark.

XRP price has reclaimed the $0.18 price level after a week, and this has brought in some good cheer among its investors. However, the way the market kept giving a series of shocks and surprises for a month, it is risky to rely upon any sudden surge. Regarding XRP coin’s current trend, Jay Chiew, a prominent crypto trader, has opined through his twitter handle:

Ripple Price Analysis

For the first half, XRP price kept ranging around $0.17, and after a sharp spike above $0.1830, the coin again started a steady march towards $0.18. As the pullback took place before that, the $0.1760 acted as strong support.

XRP News
XRP/USD Chart By TradingView

Today, the currency has resumed the uptrend, and it has reached as high as $0.1826 without any major fluctuation. Here, Bollinger bands are not showing any major volatility, while moving averages are also in the positive phase. Notably, yesterday’s spike has formed a head and shoulder pattern.

Ripple News

After yesterday’s pullback, Ripple’s escalation has reached near the 0% Fib level with a bullish bias. The 61.80% and 100% fib levels are anticipated to come across as active support levels. The XRP coin is well above the 200-day EMA line is continuing to move upwards. Also, RSI and MACD are in a bullish zone; all these strongly point out to an upcoming and much-needed price recovery.

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Ruti Vora

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

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