Ripple price analysis: XRP/USD could soon blast through $0.47 resistance

  • Ripple has shown resilience over the past four weeks breaking barriers to the upside.
  • The MACD divergence shows that the buyers will continue to gain traction in the short-term.

Ripple is trading in the green on Thursday. The gains come after the digital asset found support at $0.42 amid the rising volatility in the cryptocurrency market. Ripple has shown resilience over the past four weeks breaking barriers to the upside. The short-term target is set at $0.50, however. $0.47 is a key seller congestion zone.

A glance at the chart, we see the price sustaining an uptrend above the ascending trendline. Similarly, the up trending market has stayed above the 100 Simple Moving Average (SMA) for the past three days. Meanwhile, XRP/USD is dancing with $0.46 while fighting to break above the first resistance at $0.47. A correction above this critical level will come face to face with the resistance at $0.50.

For now, the prevailing trend is bullish in addition to the building upward momentum. Supporting the momentum is the Moving Average Convergence Divergence (MACD) at +0.0057. The increasing divergence shows that the buyers will continue to gain traction in the short-term. This also means that a correction above $0.47 is likely with $0.50 being a short-term target.

XRP/USD 1-hour 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

XRP drops below $0.3000, ETH at risk of an extended correction

BTC/USD hit the intraday low at $11,086 during early Asian hours and recovered to $11,226 by press time. The first digital coin has stayed mostly unchanged on a day-to-day basis and since the beginning of the day, moving within a short-term bullish trend amid shrinking volatility.

More Bitcoin News

XRP/USD under $0.3000 after Ripple announces the investment in XRPL Lab

Ripple's XRP dropped below $0.30 after a failed attempt to settle above $0.3200 during early Asian hours. The coin has lost over 4% in the recent 24 hours and stayed mostly unchanged since the beginning of the day. 

More Ripple News

Leading blockchain auditing firm predicts Cardano will outperform Tezos

ADA/USD bulls remained in control for the third straight day and the price is consolidating in a pennant formation. It’s current priced at $0.1443. The Elliott Oscillator has had seven straight red sessions.

More Cardano News

Altcoin Market Update: ETC and XLM face continual bearish correction

ETC/USD bears stayed in control for the fourth straight day. ETC/USD is currently priced at $7.13. The sellers are looking to get the price below the $7-level.The RSI is trending horizontally around 59.46.

More Cryptocurrencies News


Bitcoin Weekly Forecast: Fasten your seatbelts, next stop is $12,000

Bitcoin has had its best week since mid-2019. The first digital currency gained over 18% in a single week and hit the new highest level of 2020. At the time of writing, BTC/USD is changing hands at $11,358 and the upside momentum is gaining traction as Bitcoin bulls are pushing at the upper line of the weekly Bollinger Band. 

Read the weekly forecast