Ripple price analysis: XRP/USD receives a life line for the recent uptrend by catching support in touted demand zone, $0.72-0.75
|- Ripple price up 1.5% during Thursday’s session as the bulls look to regain control.
- XRP/USD resistance will be seen heading into the psychological $1.00 mark, but it is a realistic near-term target.
The Ripple price is seen up 1.5% on Thursday, bouncing back from the pressure of the last session on Wednesday. XRP/USD has dropped around 15% at one point in the day, as inline with a large cooling of pricing seen across the crypto market.
XRP/USD dropping as sharp as it did was not a total shock, the price had been rising from the 10th April, at quite some serious pace. Ripple had jumped over 80% over the course of two weeks, which is some incredible gain.
Support looks to be strong within the $0.72-0.75 region, the buying interest in this area has proven to prop up the bulls. As long as this holds, there isn’t a reason as to why XRP/USD can not move back above $1.00 in the short-term. Resistance will be seen heading into this psychological number, the price has not been here since 5th March.
XRP/USD daily chart
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