Ripple Price Analysis: XRP/USD bulls set eyes on $0.31

  • Ripple price gets ready for a rise to $0.31 resistance.
  • The battle to control the next direction for XRP/USD in full swing amid high volatility.

Ripple price action in the last couple of days has remained relatively shallow. Gains above the vital $0.30 have been acutely limited. At the same time, movements downwards have been cut short above the short-term support at $0.29.

Meanwhile, the prevailing trend has a bearish bias (short term) amid high volatility. The digital asset is trading 0.47% lower on the day after correcting from the opening of $0.3012 to the current value of $0.2998.

Ripple price is sitting above the ascending trendline (forming part of a rising triangle). Also offering support is the 100 Simple Moving Average (SMA) on the two-hour chart and the 50 SMA. The incoming cross of the 50 SMA above the 100 SMA clearly shows that the buyers are gaining traction.

However, the Relative Strength Index trend show that the bears have the control in the short term. XRP/USD declines are likely to find support at $0.29 and $0.25 respectively.

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