The Most Awaited Rebound of XRP: Will It Conquer the $0.30 Mark?

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XRP has spent a volatile day, and still, it has stabilized its trend above 0.23 since today morning. The foremost altcoin is likely to shoot up exactly how it did in the previous year but only if the market sentiments co-operate.

After the hefty price decline that took place in the second half of 2019, Ripple crypto had started its recovery in mid-December. The coin was lacking momentum till the first week of this month; however, after that, it has impressed the investors with its bullish spikes. XRP has even formed a close above $0.24 on January 18, after which it has corrected down.

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Despite corrections, XRP has managed to reclaim the $0.23 price mark recently, not to forget the higher-highs! The coin is approaching the immediate resistance level in the 3-month chart and can clear the same soon.

MACD is in the bullish zone, and RSI is at 56, showing no extremities.

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XRP/USD Chart By TradingView

Today’s price chart of Ripple cryptocurrency shows enough ups and downs, and despite that, it has not traded below $0.2300 even for a single time. The coin has faced resistance above $0.2345 twice today which is a little below the 0% Fib level. Also, the XRP coin has not breached below the 100% fib level as it seems to have a support level at $0.2310.

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XRP coin is currently trading at $0.2332 at 12:18:08 UTC, while it has just formed a bullish candle. Notably, 2019’s bull-run had ushered the coin well above $0.48; however, the coin is currently too far from there. It is to be seen how market bulls drive the altcoin this time if at all 2020 is set to see a similar price rally.

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.

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