Ripple Price Analysis: XRP/USD caution still eyed despite big recovery, as price remains in proximity to game-changing level

  • Ripple’s (XRP) price took a firm bounce, jumping as much as 14% in the session.
  • Upside was capped, as XRP/USD met sellers at $0.4400, in proximity to a touted area of supply.


Ripple (XRP) price laid the foundations for a recovery on Friday, after the price jumped as much as 14%, in the session. In a big attempt to recover the heavy losses encountered in early hours on Thursday, the price fell just shy of 20%.

Caution is still eyed for XRP/USD, as the price was met by sellers within the early $0.4400 territory. As seen on the daily chart, XRP/USD took support in an area that was seen on 7th August. This is seen around $0.3775. The level is significant because it temporarily held here, ahead of then crashing through in the following session on 8th August. The price then went on to fall to a low of around $0.2520.

It is vital for the bulls that XRP/USD holds above the key mentioned level, $0.3775, otherwise a repeat of the August fall could be seen. Should buying pressure pick up, resistance to the upside looks chunky from $0.4500-0.4700. Further north, eyes would then be on a reclaim of the psychological $0.5000 mark.


XRP/USD daily 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.