Ripple Price Analysis: Will XRP/USD hold onto $0.28 ahead of the surge above $0.30?


Share:
  • Ripple price struggles to stay afloat above $0.28 after the $0.29 seller congestion zone proved impervious.
  • Sideway action comes into play amid reducing volatility and volume across the cryptocurrency market.

Spot rate: $0.2814

Relative change: -0.00146

Percentage change: -0.55%

Trend: Sideways trending

Volatility: Low

XRP/USD daily chart

As long as Ripple stays above the 200-day SMA, more upward action is imminent.

The MACD bullish divergence suggests that bulls are relatively in control in spite of the lack of momentum to break above the resistance at $0.29 and $0.30 respectively.

XRP/USD 4-hour chart

Ripple forges an uptrend within a clear cut ascending channel likely to contain the price movements over the weekend session.

The most likely trend for Ripple is sideways trading as per the horizontally moving RSI.

XRP/USD 1-hour chart

Low volatility levels and reduced volume hint that rapid price movements are unlikely on Friday unless either the resistance at $0.29 is broken or the bears smash XRO past the support at $0.27.

XRP/USD

Overview
Today last price 0.2814
Today Daily Change -0.0015
Today Daily Change % -0.53
Today daily open 0.2829
 
Trends
Daily SMA20 0.2422
Daily SMA50 0.2187
Daily SMA100 0.233
Daily SMA200 0.2567
 
Levels
Previous Daily High 0.2878
Previous Daily Low 0.2674
Previous Weekly High 0.2465
Previous Weekly Low 0.2177
Previous Monthly High 0.254
Previous Monthly Low 0.1846
Daily Fibonacci 38.2% 0.28
Daily Fibonacci 61.8% 0.2752
Daily Pivot Point S1 0.2709
Daily Pivot Point S2 0.2589
Daily Pivot Point S3 0.2505
Daily Pivot Point R1 0.2914
Daily Pivot Point R2 0.2998
Daily Pivot Point R3 0.3118

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

Will Dogecoin (DOGE) price pull an XRP and rally 60% next week?

Will Dogecoin (DOGE) price pull an XRP and rally 60% next week?

Dogecoin price has been in a tight range bound movement since November 22. However, the recent recovery above the range low looks promising and hints at an explosive move for next week.

More Cryptocurrencies news

SEC Chair Gary Gensler’s latest call signals tough times ahead for crypto players

SEC Chair Gary Gensler’s latest call signals tough times ahead for crypto players

US Securities and Exchange Commission (SEC) chair, Gary Gensler, has hinted at tough times ahead for crypto players. In his testimony before the House Appropriations Subcommittee on Financial Service and General Government, Gensler advocated for additional infrastructure.

More Cryptocurrencies News

Crypto firms' de-banking escalates as banks reject applications due to liquidity and regulatory concerns

Crypto firms' de-banking escalates as banks reject applications due to liquidity and regulatory concerns

The crypto market has been facing hurdle after hurdle since Q2 2022 when Three Arrows Capital collapsed, which worsened in November 2022 following the bankruptcy of FTX. This led to a number of crypto companies falling.

More Cryptocurrencies News

Making a case for Binance Bicasso NFTs playing catalyst to BNB price recovery, $357 incoming?

Making a case for Binance Bicasso NFTs playing catalyst to BNB price recovery, $357 incoming?

BNB price is up three days in a row despite the legal tussle between the largest exchange by trading volume, its CEO Changpeng Zhao (CZ), and the Commodity Futures Trading Commission (CFTC). 

More Binance Coin News

Bitcoin: Breaking down key BTC levels to accumulate for Q2, 2023

Bitcoin: Breaking down key BTC levels to accumulate for Q2, 2023

Bitcoin price shows an interesting outlook as the first quarter of 2023 comes to an end. BTC has shown strength since day one of 2023 and has netted investors approximately 70% in returns.

Read full analysis

BTC

ETH

XRP