XRP Price is signaling a Fresh Increase, Bitcoin Still Under the $10K Mark

On XRP price forecast for today, Ripple’s XRP price is reportedly trading with a bullish pattern via the charts at press time. The coin appears to be gaining some traction against the USD and Bitcoin despite having an underwhelming year where it was tagged the worse performing digital asset to date.  There is a chance that the XRP price could push its recovery over an extended period if the digital asset records an upside break over the $0.3230 resistance position.

XRP (XRP) Price Today – XRP / USD

# Name Price24H %
3
ripple
XRP(XRP)
$0.273
0.681%

From today’s analysis, it is clear that XRP price touched the support area at $0.2830 which triggered the recovery against the USD. The digital asset also managed to trade over the $0.2940 resistance position as well the $0.3000 pivot position. This week’s bearish pattern was breached at the $0.3040 resistance position via the hourly chart. At press time the price of XRP was trading with a few positive signals over $0.3050 support position.

Ether and BTC Recorded Drops, But XRP is Pointing towards Bullish Action

Yesterday, we saw the price of BTC and Ether record steep drops, but price dips were limited for XRP against the USD. The XRP/USD pair also broke the $0.2940 support position before trading to a fresh monthly low. There was also a swing low forming near the $0.2833 position and recently the price of XRP started an upside correction. We also saw a break above $0.2940 and $0.3000 both resistance areas pointing towards a recovery for the asset class.

Moreover, this week’s bearish pattern was breached at the $0.3040 resistance via the hourly chart. This opened the way for more gains for the price of XRP above $0.3150 which is a resistance area. However, the upward movement is facing hurdles close to the $0.0.3230 and $0.3240 positions both of which are resistances. As a result, XRP price corrected below the $0.3150 area and the 100 simple moving average. There was a break under the 23.6% Fibonacci retracement area via the last wave from $0.2833 to $0.3248.

XRP Price Prediction: XRP Found Support at $0.3050 and $0.3040

However, the price of XRP also has many supports via the downside at the $0.3050 and $0.3040 areas. The 50% Fibonacci retracement area via the last wave from $0.2833 to $0.3248 is reportedly also near $0.3040. There is a connecting bullish pattern forming with support positions at $0.3045 via the hourly chart as well.

XRP Price is Likely to Find Bids at $0.3040 or $0.3050

Therefore, the price of XRP is likely going to find bids close to the $0.3040 or $0.3050 positions. Below this pattern and the $0.3040 point, the price of XRP may perhaps be able to test the $0.3000 level. Looking at the upside, the primary resistance position is near the $0.3230 area and the $0.3240 point. If we can see a convincing break over the $0.3240 area, then the price of XRP could accelerate gains for the near term outlook.

Looking at the XRP/USD chart, the price of the digital asset remains well bid over the $0.3040 position. Hence, as long as we don’t see a close under $0.3000, the price of XRP is likely to keep going higher. However, a clear break above the $0.3240 point might push prices to $0.3450.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

Leave a Reply

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