Ripple price analysis for June 22. Ripple is trading in firmly against the USD and may break the $0.5640 barrier soon.
The Ripple (XRP) to USD trading pair has been able to hold the $0.5200 level against the USD firmly. From the look of things, the pair may be able to break through the $0.5640 barrier and gain even more. The Ripple (XRP) to USD trading pair is still having difficulty breaking the $0.5600 and $0.5640 resistance levels in the trade against the USD.
Ripple (XRP) Price Analysis
From the price charts analyzed by Aayush Jindal, a cryptocurrency expert, the Ripple (XRP) to USD trading pair is developing a contracting triangle that has a support level at $0.5400. Soon, the pair will make another move which could be either upward to $0.5600 or downward to $0.5400. The pair has formed a support base above the $0.5050 level against the USD. The Ripple to USD trading pair also created an intermediate support at the $0.5200 level. This support will serve as a significant buy zone.
Ripple (XRP) Price Today
The Ripple to USD trading pair tried to surpass the resistance zone at $0.5620 but it was unable to break it. It also tried to cross the 61.8% Fibo level of the last wave from $0.6026 to $0.5037 but failed. Even though the price is failing to cross crucial levels, it still holds firm support above the $0.5200 and $0.5300 levels.
Ripple Technical Analysis: What is the Next Move?
The Ripple to USD trading pair is set to make a move which will mean one of two things. A downward move will mean that the price will fall to the $0.5400 levels and an upward move will mean that the price will rise to $0.5600. If the pair is to get more gains, then movement above the $0.5600 and $0.5620 levels is necessary. If it’s able to move above this level, it may test the $0.600 level near-term. If it falls below the $0.5400 level, this may open the way for more declines below the $0.5200 and even $0.5050 support level.