|

Breaking: XRP/USD breaks above $0.2000, gains 7% since the beginning of Monday

  • XRP/USD settles above critical $0.20.
  • The next resistance is created by SMA50 daily.

Ripple's XRP catapulted to $0.2100 during early European hours. The third-largest digital coin broke above $0.20 and gained over 5% in a matter of hours. On a day-to-day basis, XRP/USD has grown by 9%. At the time of writing, XRP/USD is changing hands at $0.2077 amid strong bullish bias and expanding volatility

XRP/USD: technical picture

As the fundamental reasons for the pump remain unknown, XRP/USD growth is driven mostly by speculative and technical factors. A move above psychological $0.20. absorbed stops located above this area and increased the upside momentum. If the coin manages to stay above this handle by the end of the day, the bulls might get bolder and push the price towards the next resistance area created by SMA50 (Simple Moving Average) daily at $0.2130. Once it is out of the way, the upside is likely to gain traction with the next focus on $0.22.

On the downside, if the price returns to the area below $0.20, the sell-off may be extended towards $0/1930 ( the middle line of the daily Bollinger Band) and psychological $0.1900.

XRP/USD, daily chart

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

More from Tanya Abrosimova
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Crypto Today: Bitcoin, Ethereum, XRP trade under pressure amid mixed technical signals 

Bitcoin is trading above $90,000 at the time of writing on Tuesday amid sticky risk-off sentiment in the broader crypto market. Altcoins, including Ethereum and Ripple, are paring losses, holding above key support levels.

Bitcoin steadies above $90,000 as Fed rate-cut optimism lifts market sentiment

Bitcoin price holds above $90,000 on Tuesday after finding support around this key level. Firm expectations that the Fed will cut interest rates on Wednesday boosts investors' appetite for riskier assets such as BTC.

Pepe stalls as on-chain, derivatives data flash bullish signals

Pepe (PEPE) trades in the red on Tuesday after failing to secure a daily close above the $0.00000500 psychological level on Monday. The technical outlook remains mixed as the meme coin consolidates. 

Chainlink Price Forecast: LINK holds firm as reserves hit 16-month low

Chainlink price steadies near $13.70 on Tuesday, finding support around the key level. On-chain data signals bullish sentiment, as LINK exchange reserves fall to their lowest level since August 2024.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.