Ripple [XRP] Price Analysis: Climbs into a Positive Zone – Eyes Glued On $0.3700

XRP price analysis
Source: TradingView

Ripple [XRP] Price Analysis: Climbs into a Positive Zone – Eyes Glued On $0.3700

  • The breakout at $0.32221 placed Ripple in a formidable uptrend.
  • Ripple is poised for more upside correction as long it stays above the positive zone at $0.3300 – $0.3350.

The trading yesterday saw a decent move in Ripple price above the short-term support at $0.3200. The price struggled with the resistance at the 23.6% Fib retracement level taken between the last upswing at $0.3697 and a downswing of $0.3144. A break occurred above the 100 simple moving average (SMA) 1-hour which opened the door for more gains past $0.3300 resistance level.

XRP Price Analysis
XRP Price Analysis Chart Source: TradingView

Prior to the gains on Wednesday, XRP/USD had battled the seller congestion at the trendline resistance on Monday. The breakout at $0.32221 placed Ripple in a formidable uptrend that has seen it record higher highs and higher lows and as a result, XRP entered a bullish zone above $0.3350. The surge culminated in a significant upward move past $0.3400 resistance level and formed an intraday high at $0.3500 (marginally above the 61.8% Fib level).

An ongoing retracement from the weekly high, $0.3500 is testing the weak support at the 50% Fib level while XRP/USD is exchanging hands at $0.3453. Further dips below this level will remain support at the positive zone observed around $0.3300 – $0.3350. A retracement might be necessary to ensure that there is more buying interest in the positive zone for an assault on the coveted $0.3700 monthly high.

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Other support levels include the 26.3% Fib retracement level close to $0.3274. The 100 SMA 1-hour currently at $0.3282 is also in a position of offer support. $0.3200 is important to support while the key support lies at $0.3139. On the upside, a break above the critical resistance at $0.3500 will pave the way for a surge towards the monthly high at $0.3700; a move that is expected to launch XRP into a bullish trajectory that would take it above $0.4000.

In the meantime, XRP/USD is trading above a key positive area at $0.3300 – $0.3350. This means that Ripple is still poised for more upside correction as long as it stays above the positive zone.

Ripple [XRP] Key Technical Indicators

MACD 1-hour: +0.0050 (trending upwards).

RSI 1-hour: 64.25 (after rejection from the overbought zone)

Support 1:  $0.3300 – $0.3350

Support 2: $0.3200

Primary support: $0.3139

Resistance 1: $0.3500

Resistance 2: $0.3600

Key resistance: $0.3700

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Ripple [XRP] Price Analysis: Climbs into a Positive Zone – Eyes Glued On $0.3700
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Ripple [XRP] Price Analysis: Climbs into a Positive Zone – Eyes Glued On $0.3700
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The breakout at $0.32221 placed Ripple in a formidable uptrend. Ripple is poised for more upside correction as long it stays above the positive zone at $0.3300 - $0.3350.
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Author: John Isige

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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John Isige 236 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

Follow John @