Ripple price analysis: Can XRP/USD hold above $0.30?

  • Ripple struggles to stay above $0.30 amid the bulls and the bears' tug of war.
  • A short-term ascending trendline is in line to offer immediate support.

Ripple price managed to clear the resistance at $0.30 and even touched $0.315 following the euphoria Bitcoin (BTC) impressive rally above $10,000. The 61.8% Fib retracement level taken between the last swing high of $0.315 to a swing low of $0.25 is forming confluence support with the 50 Simple Moving Average (SMA) on the two-hour chart and the 100 SMA at $0.29.

Ripple is trading at $0.30059 and trying to hold above the short-term ascending support. The Relative Strength Index (RSI) is retreating towards the average although it hit levels above 80 over the weekend. A relatively stable sideways movement of the RSI will also ensure that Ripple trades within a range; $0.31 and $0.29.

For now, the toughest task is to keep the price above $0.30. Apart from $0.29 and SMAs’ support, other support areas include $0.28 and $0.25.

XRP/USD 120' chart

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