Price Analysis

XRP/USD Initiates Bull-run; $0.197 Seems Imminent

XRP May Have Started Late, but It Possesses Huge Potential

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  • XRP price has gone past a major resistance of $0.1945, and it may soon breach its 50 days MA at $0.1951
  • The next resistance point seems likely at $0.197, with support hanging around $0.187

XRP has failed in getting back to its previous glory despite the fact that many other coins, including Bitcoin, showed impressive recovery. Over the last week, it is hovering around $0.1850. The last 24 hours have been a bit of bullish as it has managed a yield of 3.39% and went near $0.1950.

Ripple Price Analysis

It should be reported that Ripple has witnessed huge transactions over the last few days. As per the report, 114 million XRP coins have been transacted from concealed wallets to exchanges. However, there is no official byte from Ripple on this yet.

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XRP News
XRP/USD Chart By TradingView

As far as XRP’s intraday journey is concerned, it did decently. It was spotted at $0.1885 yesterday, and in the next 7 hours, the price got pulled down to $0.1859. After hitting this low, the XRP coin marked a sharp bullish move and gained a 7.42% value that took the Ripple price to the highest point of the day at $0.1997. After breaking a major resistance at $0.1990, it couldn’t run with the flow for long and started losing again. By 23:40 UTC, the price was confined to $0.191 again. However, the next few hours have been a bit of bullish for the currency.

The RSI stands at 52.53 points. The XRP coin price has come a long way from its 200-day MA ($0.1892). Once it crosses the 50 days MA ($0.1951), we can expect it to test the next resistance at $0.197. It may even go as high as $0.199 over the next week. However, on the downside, if the currency will correct downwards, it will manage to stay around its key support $0.1873.

Resistance and Support Levels

R1- $0.1954, R2- $0.1991 and R3- $0.2034

S1- $0.1873, S2- $0.1830 and S3- $0.1793

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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