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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ripple (XRP) Smashes $0.25 To Open Doors For $0.30: Key Levels To Watch

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Ripple XRP

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Ripple gained recently and broke the $0.2450 and $0.2500 resistance levels against the US Dollar. XRP price is currently correcting, but it is likely to continue higher towards $0.3000.

  • Ripple price climbed higher and traded to a new monthly high at $0.2616 against the US dollar.
  • The price is currently correcting lower, but dips remain supported near $0.2480 and $0.2450.
  • There is a short term declining channel or a bullish flag forming with resistance near $0.2580 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is likely to continue higher towards $0.2750 and $0.3000 in the coming days.

Ripple Price Could Surge Again

After forming a support base near the $0.2320 level, ripple started a fresh increase. XRP price broke many hurdles near the $0.2450 and $0.2500 levels to enter a positive zone.

Moreover, the price settled nicely above $0.2450 and the 100 hourly simple moving average. Finally, the price traded to a new monthly high at $0.2616 and it is currently correcting lower.

It broke the 23.6% Fib retracement level of the recent wave from the $0.2340 low to $0.2616 high. Ripple is now approaching the $0.2500 support area, where the bulls are likely to emerge.

More importantly, there is a short term declining channel or a bullish flag forming with resistance near $0.2580 on the hourly chart of the XRP/USD pair. The 50% Fib retracement level of the recent wave from the $0.2340 low to $0.2616 high is also near the $0.2480 level.

Ripple Price
Ripple Price

On the upside, an immediate resistance is near the $0.2550 and $0.2580 levels. A successful break above $0.2580 might start another surge above the $0.2600 level.

In the mentioned case, the price is likely to climb higher towards the $0.2650 and $0.2750 levels. The main target for the bulls could be $0.3000 in the coming sessions.

Importance of $0.2450

The previous resistance for ripple near $0.2450 is now a major support area. If there is a downside break below $0.2450 support, there is a risk of a larger decline in the near term.

The next support is near the $0.2420 level and the 100 hourly simple moving average. If the price fails to stay above the 100 hourly simple moving average, it could continue to move down towards the $0.2320 support.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now slowly moving in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently just above the 50 level, with positive signs.

Major Support Levels – $0.2500, $0.2480 and $0.2450.

Major Resistance Levels – $0.2550, $0.2580 and $0.2650.

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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