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Home Technical analysis

Ripple Price Analysis: XRP/USD Turned Bullish Above $0.3300

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
Ripple Price Technical Analysis XRP USD
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Key Highlights

  • Ripple price broke the $0.3250 and $0.3300 resistance levels to move into a bullish zone against the US dollar.
  • There is a connecting bullish trend line formed with support at $0.3260 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair formed an intraday high at $0.3436 and it is currently correcting lower towards $0.3320.

Ripple price is positioned nicely in a bullish zone against the US Dollar and Bitcoin. XRP/USD dips remain supported around the $0.3320 and $0.3300 levels in the near term.

Ripple Price Trend

Yesterday, we discussed that Ripple price could test the $0.3400 resistance against the US Dollar. The XRP/USD pair did trade higher, broke the $0.3300 resistance level, and tested the $0.3400 level. There was a close above the $0.3300 support and the 100 hourly simple moving average. The price traded as high as $0.3436 and later it started a downside correction.

It is currently trading near the 23.6% Fib retracement level of the recent upside from the $0.3191 low to $0.3436 high. On the downside, there are many support levels near $0.3300 and $0.3320. The stated $0.3320 level was a resistance earlier, and it could now act as a support above $0.3300. Moreover, the 50% Fib retracement level of the recent upside from the $0.3191 low to $0.3436 high is at $0.3313. Further below, there is a connecting bullish trend line formed with support at $0.3260 on the hourly chart of the XRP/USD pair. Therefore, if the price continues to move down, it is likely to find strong bids near $0.3300.

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Ripple Price Analysis XRP USD Chart

Looking at the chart, ripple price has moved into a positive zone above $0.3300. On the upside, a close above the $0.3400 and $0.3450 levels may well clear the path for a push above $0.3500.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is nicely placed in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is moving lower from 75 to 60.

Major Support Level – $0.3300

Major Resistance Level – $0.3450

Tags: OpinionRipple PriceRipple Price AnalysisRipple Price ChartRipple Price Forecastripple xrptradingxrpxrp btcxrp usdXRPUSD
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Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

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