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Ripple Price Technical Analysis

Aayush Jindal
Aayush Jindal
7 years ago
2 mins read
Ripple analysis

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Key Highlights

  • Ripple price declined recently and moved below the $0.2060 support area against the US Dollar.
  • There are two bearish trend lines forming with resistance at $0.2030 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price is currently correcting higher, but it is facing many resistances near $0.2060.

Ripple price declined recently against the US Dollar and Bitcoin. XRP/USD is now below $0.2060 and struggling to recover in the short term.

Ripple Price Resistance

There was a decent upside move in Ripple price above $0.2200 this past week against the US Dollar. The price traded as high as $0.2240 before it started a downside move. It declined sharply and moved below the $0.2100 and $0.2060 support levels to settle below the 100 hourly simple moving average. It even broke the $0.1960 support area and traded as low as $0.1896.

A recovery was initiated later, which took the price above the $0.1970 level. XRP also moved above the 23.6% Fib retracement level of the last decline from the $0.2240 high to $0.1896 low. On the upside, there are two bearish trend lines forming with resistance at $0.2030 on the hourly chart of the XRP/USD pair. The $0.2030 resistance is also near the 50% Fib retracement level of the last decline from the $0.2240 high to $0.1896 low. Therefore, a close above the $0.2030 and $0.2060 resistance levels won’t be easy in the near term.

Ripple Price Technical Analysis XRP USD

On the downside, the $0.1900 level is a decent support. Below $0.1900, the recent low near $1896 might provide support. The overall trend is neutral with chances of a dip back toward the $0.1900 level in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is attempting to move back in the bullish zone.

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

Major Support Level – $0.2180

Major Resistance Level – $0.2250

Charts courtesy – Trading View, Kraken

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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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