XRP (XRP) Still Remains Strongly Supported On the Downside, Could Surge Soon

The value of XRP is currently facing a major hurdle on the upside, and the digital currency is consolidating in a tight range against Bitcoin (BTC) and the U.S. dollar. Once the present consolidation stage is over, the digital currency could experience a massive upside break and fly to the moon.

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.470636
-0.45%

At the time of writing, XRP (XRP) is trading slightly over its critical support at the 45 cents mark. The coin is presently trading at $0.4530. The market cap of the digital currency is $17.76 billion and its trading volume over the past twenty-four hours is $201.86 billion.

XRP (XRP) Price Trend and Analysis

Over the past couple of days, XRP has been trading over the 43 cents mark against the US dollar. The digital currency made a couple of attempts to break over the hurdle at the 46 cents and 47 cents mark, but it couldn’t succeed.

Presently, the digital currency is consolidating over the 45 cents mark and its likely gathering momentum for the next upward move. For buyers to be in charge of the market once again, a close over the 47 cents resistance level is a must. An immediate resistance is close to the 50 percent Fibonacci retracement level of the previous swing from the high of $0.4690 to the low of $0.4437.

There is also a formation of a short-term contracting triangle with hurdle close to the $0.4560 mark on the one-hour chart of XRP. A break over the immediate resistance could push the value of the digital currency towards the 47 cents hurdle point.

From the chart of XRP/USD, the digital currency may continue to change hands in a range beneath the 47 cents resistance level for the next couple of sessions. Over the 47 cents mark, the digital currency could surge higher towards the 50 cents and 55 cents mark.


SEE ALSO:   XRP Gets A Price Boost After Getting Subtle Endorsement From FSB 

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