Ripple Price Analysis: Investor interest on the rise as XRP/USD spikes 2%

  • Ripple holds above $0.20 after rejection from the weekly high above $0.21.
  • XRP/USD renews bullish momentum on Saturday with gains testing the short term resistance at $0.2050.

Ripple is slowly repairing its image in the eyes of its investors. For a long time the crypto has been singled out as one of the most underperforming digital assets. Recovery has not been forthcoming for XRP, especially after the “Black Thursday” crash in March: Ripple plunged to $0.11. The trading in May and June was characterized by dominant selling activities with the price diving back to $0.1650.

The month of July has been kind to Ripple considering that its value has increased significantly to levels above $0.21. Unfortunately, it became difficult for the bulls to sustain gains towards $0.25. Instead, there was a minor adjustment on Friday with Ripple containing the gains around $0.20.

The trendline as well as the 100 SMA in the hourly timeframe aided in holding the price above $0.20. Meanwhile, Ripple has recovered significantly to test the short term hurdle at $0.2050. The seller congestion at this level is a hard nut to crack resulting in a shallow slide to $0.2031 (prevailing market value).

From a technical perspective, Ripple is poised for more upward action. Looking at the MACD and the RSI, it is apparent that buyers have the upper hand. The latter is holding the position above 60 while the MACD has corrected into the positive region. Moreover, the gap made by the 50 SMA above the 100 SMA emphasizes on the bulls' position in the market. Gains above $0.2050 and $0.21 would pave the way for more action towards $0.25.

XRP/USD 1-hour chart

XRP/USD price 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.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Forecast: BTC whales plotting a bullish attack

Bitcoin (BTC) is changing hands at $10,750, mostly unchanged since the start of the day. The cryptocurrency attempted a recovery to $11,000 on Monday but was thrown back inside the range by aggressive short-term sellers.

More Bitcoin News

Top 3 Gainers: OMG, SXP, and STORJ explode 70% and are eying up more gains

The entire cryptocurrency market is bouncing back up, strongly gaining more than $28 billion in market capitalization over the past week. Some of the biggest gainers include OMG, SXP, and STORJ. 

More Cryptocurrencies News

LINK goes through consolidation, preps for a breakout

LINK broke above the downward trending line this Thursday and is currently trending horizontally between the $10 support line and the SMA 20 curve.

More ChainLink news

Bitcoin's mass adoption passes the point of no return

Bitcoin was created in response to the Financial crisis of 2008 and developed within a narrow circle of computer geeks, coders, and libertarians fixated on personal freedom, anonymity, and independence from all sorts of authorities. 

More Bitcoin News


Bitcoin Weekly Forecast: Keep calm and HODL on until the USA elects the president

Bitcoin (BTC) partially regained the losses incurred at the beginning of the week; however, the upside momentum is still too weak to take the price out of the bearish territory and ensure a sustainable recovery. 

Read the weekly forecast