Ripple Price Analysis: XRP/USD Bulls Devise Next Attack At $0.30

By John Isige
Published February 25, 2020 Updated February 25, 2020
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Ripple Price Analysis: XRP/USD Bulls Devise Next Attack At $0.30

By John Isige
Published February 25, 2020 Updated February 25, 2020
  • Ripple price strongly defends $0.26 support as sideways trading commences.
  • The consolidation above $0.26 is likely to set the framework for the next rally targeting $0.30.

Ripple is settling down after a couple of days of rampage across the cryptocurrency market. The market has been painted red by one massive brush for two days in a row. Ripple has continued to move farther and farther away from the recently established new 2020 high at $0.3463.

All the tentative support areas including $0.32, $0.30 and $0.28 have been left shattered and turned into strong resistance zones. Hopes that $0.27 would be saving grace was also dealt a blow on Tuesday as the price extended the bearish leg towards $0.26.

XRP/USD daily chart

XRP/USD Price Chart
XRP/USD Price Chart By Tradingview

In the meantime, XRP/USD is dancing at $0.2644 following a shallow recovery from the intraday low at $0.2615. The support zone between $0.26 and $0.2650 has been tested a few days, which means, further downward movements are unlikely.

Advancement towards $0.30 might take a while, besides, according to the prevailing technical picture, a sideways trading action could the next direction Ripple price takes. For instance, the Relative Strength Index appears to have found support at 30. Reversal towards 50 has not been forthcoming but the RSI is settling in a leveling motion below 40. In other words, XRP/USD is ready for consolidation in the next few sessions.

The double-cross of the moving averages also emphasize on the apparent bearish grip. Nonetheless, if the price stays above $0.26, bulls will have a chance to gather the much-needed strength to force a breakout above $0.27. Both the 50 SMA and the 100 SMA will hinder growth beneath $0.28 but with the right volume, the journey to $0.30 could be a smooth one.

Ripple Key Levels

Spot rate: $0.2648

Relative change: -0.00596

Percentage change: -2.2%

Trend: Sideways trading

Volatility: Low

Support Levels: $0.26 and $0.25

Resistance levels: $0.27, $0.28 and $0.30


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
John Isige
1158 Articles
John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

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