Ripple price analysis: XRP/USD looks to consolidate its position above the $0.30 zone
|- XRP/USD is floating inside the green Ichimoku cloud.
- Ripple is still struggling to break past the upward trending line.
Ripple has had a bullish breakout from a flag formation as it looks to consolidate its position above the $0.30 level. Currently, the price has gone up from $0.302 to $0.304 and is floating inside the green Ichimoku cloud. The hourly breakdown shows us that intraday support and resistance lie at $0.299 and $0.305, respectively. This tells us that the bulls will want to target two different zones - $0.305 and the upward trending line to continue its upward momentum.
XRP/USD daily chart
The daily price chart is floating above the 20-day Simple Moving Average (SMA 20) and SMA 50 curves. The Moving Average Convergence/Divergence (MACD) indicates sustained bullish market momentum, while the Elliott Oscillator has had a red session following three straight green sessions. The Bollinger width is around 0.15 showing standard market volatility.
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