XRP price started recovering on July 18 after the massive price dip in the market. The price of XRP is now showing many positive signs above the $0.3200 area against the USD since the Bitcoin price rallied a 10% gain. The price of XRP could continue to rise higher if it eventually breaks the $0.3280 and $0.3300 positions. XRP appears to be doing better in the last few days after an extended period where it underperformed, to say the least.
The Price of XRP Recovered Steadily after a Huge Drop
For our cryptocurrency forecast for today, we will discuss the price action of XRP n the past 24 hours and how BTC price could break further after moving past the $10,500 mark. The price of XRP has managed to recover steadily against the USD to trading under the $0.2900 support position. The price of XRP climbed higher before breaking through the key resistance positions at $0.3000 and $0.3200.
Looking at the XRP/USD chart, we can see that the price of XRP is trading in positive bias above support positions at $0.3150 and $0.3040. Therefore, there’s a good chance that the crypto will see more gains above $0.3280 and $0.3300. Both of which are resistance levels.
XRP (XRP) Price Today – XRP / USD
XRP Price Prediction: XRP Price Formed a New Monthly Low at $0.2833
Recently, via the XRP/USD chart, we saw a crushing downward action in the price of XRP under the $0.3000 support position against the USD. The XRP/USD pair eventually broke the $0.2900 area which is a support position before testing the $0.2850 area. At this point, a new monthly low formed near the $0.2833 area. The price of the asset class recently began an upside correction. We also saw a break above $0.3000 and $0.3100 both resistance areas.
Moreover, the XRP price settled above $0.3100 and the 100 hour SMA. The bulls eventually gained traction before the price of XRP broke the $0.3200 resistance point. Finally, XRP price spiked above $0.3240 a resistance. After which it traded near the $0.3280 area. Another swing high was also formed at $0.3274. The price of XRP is currently correcting lower. XRP broke the $0.3240 area along with the 23.6% Fibonacci retracement area via the last wave from $0.0.3041 to $0.3274.
XRP Price Prediction: XRP Price Many Support Positions at $0.3200 and $0.3150
However, there are a number of support areas via the downside at the $0.3200 and $0.3150 areas. There is an ascending channel forming as well with support at the $0.3150 point via the hourly chart of the pair. The 50% Fibonacci retracement point via the last wave from $0.0.3041 to $0.3274 is also close to the channel support where it will act as a strong support for the near term outlook.
In the event that the price of XRP records a downside break under this channel support position, the price of the coin may move back to the $0.3040 area. However, the 100 hour SMA at $0.3090 may be able to prevent further losses. Via the upside, if there is an immediate resistance close to the $0.3275 and $0.3280 price positions, it is possible that above this point the price XRP ss likely to surge. At least above $0.3300 in the near term.