Ripple’s XRP Price Analysis: XRP/USD must breakdown these barriers for greater upside
|- Ripple’s XRP is trading up with decent gains of around 4.5% in the latter part of Tuesday, after three consecutive sessions of losses.
- XRP/USD price action has been stuck within a mundane daily trading range since 11th January.
Ripple’s XRP price in the latter part of Tuesday is holding decent gains of around 4.5%. XRP/USD finally moving to the upside, this coming after three consecutive sessions of selling, losing around 6% within this period.
XRP/USD despite the gains observed in the session today – Tuesday, the price really has not done much since 11th January. Price action has been stuck within a daily range, the low down at around $0.28, with the high of this up at $0.3500.
For greater upside, the bulls must break down in the near-term; $0.325, daily pivot point resistance and then $0.3400-0.3500 area, the upper part of this mundane daily range. Should the bulls force a breach here, this could open the door to much buying pressure, sending XRP/USD back into $0.4000 price region. There is heavy supply within the early-mid $0.40 territory, this is the final big barrier in the way of potential great upside to come for XRP.
XRP/USD daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.