Ripple Price Analysis: XRP/USD bulls match to jumpstart rally to $0.35

  • Ripple price must defend $0.28 support at all costs to set the framework for the pullback to $0.35.
  • The seller congestion zone at $0.30 must come for gains above $0.30 to materialize.

Ripple is making a comeback towards the broken support at $0.30. The recovery follows a slump from highs marginally under $0.35 to lows of $0.27119. The Bollinger bands daily middle curve formed a confluence with the 21-day SMA, offering the bulls refuge and preventing more losses towards $0.25.

At the time of writing, XRP is doddering at $0.2914 after adding 1.48% to its value on Tuesday. The Asian session has been dominated by bullish influence, however, the bulls still lack enough power to disperse the sellers congested at $0.30. On the brighter side, intraday levels show that the trend is in favor of the bulls amid high volatility.

As long as the BB daily middle curve confluence with the 21-day SMA continues to hold, there is a possibility movement north will be forthcoming in the near term. Moreover, the price closed the day above the 200-day SMA as an indicator of continued buyer presence

However, a bearish divergence by the MACD shows that selling activity cannot be ignored. Therefore, guarding support at $0.28 should come among the bulls’ top priorities.

TraderSmokey, a popular trader and analyst on Twitter believes that Ripple still has the potential to lead in the altcoins recovery phase as long as it above to close its daily above $0.28.

If XRP closes this daily above .28$ on the USD Pair and above the daily 200MA on the BTC Pair I’ll be back in, but with less size. Risking less and if it starts going again I’ll add on the upside. A lot of flip flopping around XRP from me but it still looks fine in my opinion.

XRP/USD daily chart
XRP/USD daily 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 & Analysis

Editors’ Picks

Bitcoin Price Analysis: Bearish technical signals point to a test of the 6K area

Bitcoin is looking bearish on Wednesday as the price moved 3% lower after rejecting higher levels. The market bounced off the blue trendline and pushed through the 55 and 200 hourly moving averages.

More Bitcoin News

Ripple Price Analysis: Bearish technical signals could seen XRP to 0.1600

Ripple has had a good run at testing upside targets recently but it seems there was no breaking 0.1800 for now. Now it seems the trendline in black on the chart has been broken to the downside.

More Ripple News

ETH/USD locked in a range; short-term recovery capped by $134.40

ETH/USD is changing hands at $132.00, mostly unchanged both on a day-to-day basis and since the beginning of Wednesday. The second-largest digital asset has been moving within a short-term bearish trend amid high volatility. 

More Ethereum News

Monero Price Analysis: XMR pushes higher towards the 50.00 level

Monero has caught a bid late in the US session on Wednesday after trading lower for most of the day. The price has just recently moved through the moving averages (55 & 200) which can be considered a bullish sign. If the black resistance line at 48.20 ...

More Bitcoin Cash News


Bitcoin Weekly Forecast: Coronavirus will either kill Bitcoin or make it stronger

Bitcoin is about to finish the second positive week in a row. The first digital coin has recovered from $5,680 and came close to psychological $7,000 during the week.

Read the weekly forecast