Price Analysis

XRP Holds a Robust Support Level; Stabilizes Above $0.28

Ripple (XRP) News:

  • XRP price is about to have a bullish breakout above its 50-day SMA line
  • The coin has managed to have a close above $0.2841 in the morning; currently correcting with a stable momentum
  • The coin is consolidating without allowing any bearish domination; however, a declining flag has taken place
  • Price range below $0.2800 acts as a support level; support level at $0.2796 has already been tested

XRP was already above $0.27 due to the day before yesterday’s surge and the coin has sustained the bullish trend today too. On the other hand, Bitcoin is also on a bullish spree as it has climbed above the $9700 price mark. Thankfully, the $10,000 price mark seems imminent for Bitcoin as of now.

Ripple opened today on a short term bearish note at $0.2781 and declined slightly below $0.2735. Here, it found a support level at $0.2732 and slowly started an uptrend.

The uptrend faced a pause at $0.2747 and then it resumed the surge. The 3.42% hike took the coin way above $0.28 before it faced rejection above $0.2841.

Ripple Price Today
XRP/USD Chart By TradingView

The downward corrections have caused the coin to test a few support levels below $0.2800 but overall, XRP seems stable and positive.

While correcting down, it has formed a mild declining flag and XRP has been largely trading within the moving averages. The altcoin is prepping to have a bullish breakout of the bearish flag.

Also, RSI and MACD are giving bullish signs at the moment while SMA lines are also painting a positive picture. In a nutshell, XRP is likely to remain bullish at-least for the short term.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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