XRP (XRP) Could Test the 34 Cents Mark Soon As It Breaks a Major Resistance Level

The value of XRP (XRP) formed decent support close to the 32 cents mark and surged higher against the U.S dollar. XRP is currently correcting higher against Bitcoin (BTC) and the U.S dollar. However, the digital currency is likely to face resistance close to the 34 cents level.

XRP (XRP) Price Today – XRP / USD

# Name Price24H %

At the time of writing, XRP (XRP) is changing hands at $0.3297 after an increase of more than two percent over the past twenty-four hours. The digital currency currently boasts of a market cap of $13.03 billion and its trading volume over the past twenty-four hours is $187.72 million.

XRP Price Analysis and Trend

After declining to the support at $0.3120, the value of the coin recovered higher against the U.S. dollar. XRP surged over the 32 cents mark and formed nice support base close to the $0.3190 to $0.32 marks. Later, the digital currency started a fresh upward trend and surged over the 23.6 percent Fibonacci retracement level of the previous swing from the high of $0.3541 to the low of $0.3090.

The value of the coin also surged over the $0.3250 hurdle and the 100-hourly simple moving average. Also, there was a break over the key bearish trendline with hurdle at the $0.3240 mark on the 1-hour chart of the coin.

The digital currency traded over the $0.3260 mark, and it is currently trading in a positive territory. The immediate hurdle of the digital currency is at the $0.3315 and the 50 percent Fibonacci retracement level of the previous swing from the high of $0.3541 to the low of $0.3090.

A break over the resistance at the $0.3315 mark might pave the way for a push towards the next resistance at the $0.34 mark. However, if the coin declines below its current level, it will find support at the $0.32 mark.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.