- Ripple’s XRP Price is Gaining Momentum Against the U.S Dollar
- Bullish Price Trend in the Near Term
The trading price of Ripple’s XRP is gradually gaining momentum, the trading price recently surged above $0.3000 against the U.S dollars. The highlighted key bearish trend that was registered yesterday was broken with resistance close to $0.2940 on the hourly chart of the XRP/USD pair. The same fate was observed with Ethereum’s ETH, the trading price of the coin experienced a moderate surge above the $185 resistance area.
As at the time of writing, Ripple trading price in a positive zone with bullish moves against the U.S dollars and Bitcoin. The coin’s price has the potential to surge persistently towards the $0.3120 level.
For a while now, the price has been stable above the $0.2880 support and recently began a strong upward move. There was a break above the $0.2940 and $0.2950 resistance level. Also, the price is stable above the $0.2950 resistance area and the 100 hourly simple moving average. The previous breach of resistance to $0.2940 on the hourly chart of the XRP/USD pair has opened the doors for more gains above the $0.2980 and $0.3000 resistance levels.
Bullish Price Trend in the Near Term
The price tested the $0.2980 and $0.3000 resistance levels, before this, the price was correcting lower below $0.3020. It traded below the 23.6% Fib retracement level of the recent wave from the $0.2890 low to $0.3056 high.
XRP (XRP) Price Today – XRP / USD
# Name Price 24H % 3 $0.220
Although, there are several key supports on the downside close to the $0.2980 and the $0.2975 levels. Also, the 50% Fib retracement level of the recent wave from the $0.2890 low to $0.3056 high is likely to give support close to the $0.2975 level.
Should there be a downside break below the $0.2975 support area, Ripple’s price could stretch its decrease towards the $0.2950 support. The said $0.2950 level was a resistance previously and currently it is like to offer support. While on the upside, an initial barrier for the bulls is close to the $0.3060 area. Should there be an upside break above the $0.3060 level, the price is likely to surge higher towards the $0.3120 and $0.3150 resistance level.
Going by the chart analysis, Ripple’s price is displaying numerous positive signs above the $0.2950 and $0.2980 support levels. And as long as the price does not decrease below $0.2950, there are high possibilities of more gains above the $0.3060 resistance in the near term. Meanwhile, the MACD for XRP/USD is currently gaining momentum in the bullish zone, the RSI for XRP/USD is above the 60 levels with bullish signs, and the Major Support Levels are $0.2980, $0.2950 and $0.2940 while the Major Resistance Levels are $0.3060, $0.3120 and $0.3150.