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Ripple Price Technical Analysis – Can XRP/USD Make it?

Aayush Jindal
Aayush Jindal
7 years ago
2 mins read
Ripple Price Technical Analysis XRP USD

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Key Highlights

  • Ripple price is currently moving inside a range below the $0.7300 resistance against the US dollar.
  • There is a short-term contracting triangle forming with support near $0.6900 on the hourly chart of the XRP/USD pair (data source from SimpleFx).
  • The pair looks set to make the next move either above $0.7400 or below $0.6900 in the near term.

Ripple price is poised to make the next move against the US Dollar and Bitcoin. XRP/USD may soon climb higher above the $0.7300 and $0.7400 resistance levels.

Ripple Price Resistance

There was no major upside move above $0.7400 during the past two sessions in Ripple price against the US Dollar. The price attempted an upside break above $0.7400-0.7500 recently, but it failed to gain momentum. The recent high was $0.7640 from where the price mostly traded inside a range. It moved below the 23.6% Fib retracement level of the last wave from the $0.5180 low to $0.7640 high.

However, the downside move was protected by the $0.6600 support area. Moreover, the 38.2% Fib retracement level of the last wave from the $0.5180 low to $0.7640 high also acted as a support. At the moment, it seems like the price is preparing for the next move either above $0.7400 or below $0.6900 in the near term. There is a short-term contracting triangle forming with support near $0.6900 on the hourly chart of the XRP/USD pair. A break above the $0.7400 level could push the price above $0.7600 or even $0.8000.

Ripple Price Technical Analysis XRP USD

On the downside, the $0.7000 and $0.6900 levels are decent supports. The pair has to stay above the $0.6900 level to make an upside move, otherwise, it could retest the $0.6500 support.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is mostly flat with a few bearish signs.

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

Major Support Level – $0.6900

Major Resistance Level – $0.7400

 

Charts courtesy – SimpleFX

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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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Comments 3

  1. Rich Evans says:
    7 years ago

    Your analysis that it was either going to down or up was 100% correct.

    Reply
    • Paul Long says:
      7 years ago

      That was brilliant wasn’t it. Lol

      Reply
      • Rich Evans says:
        7 years ago

        I’m just happy which way it went!

        Reply

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Comments 3

  1. Rich Evans says:
    7 years ago

    Your analysis that it was either going to down or up was 100% correct.

    Reply
    • Paul Long says:
      7 years ago

      That was brilliant wasn’t it. Lol

      Reply
      • Rich Evans says:
        7 years ago

        I’m just happy which way it went!

        Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

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