• Ripple's coin has been recovering from Monday's lows.
  • XRP/USD bulls need to clear $0.3150 to continue the recovery.

Ripple's XRP recovered from Tuesday's low of $0.2834 to trade at $0.30 by the time of writing. The third-largest digital coin with the current market capitalization of $12.7 billion has lost nearly 5% of its value in recent 24 hours and stayed mostly unchanged since this time on Tuesday. 

Ripple's technical picture

On the intraday charts, XRP/USD bulls try to push the price above the critical $0.30 barrier. Once it is sustainably broken, the recovery may be extended towards the initial resistance created by SMA50 (Simple Moving Average) 1-hour at $0.3080. Once it is cleared, the upside is likely to gain traction with the next focus on psychological $0.31 and $0.3150 (SMA100 1-hour).

A sustainable move above this handle will open up the way towards the next bullish aim of $0.3480 (SMA200 1-day), which is closely followed by psychological $0.35.

On the downside, watch out for the intraday low of $0.2925, followed by Monday's low at $0.2834. Considering that the short-term RSI (the Relative Strength Index)stays flat in a neutral position, we may suggest that XRP/USD will be sidelined in the nearest future.

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 & Analysis

Editors’ Picks

Bitcoin Price Prediction: Bears in full control of the market

The bears are in control of the BTC/USD market for the third straight day. This Thursday, the price plummeted from $8,660 to $8,386.60. So far this Friday, the price has fallen further to $8,368.40. The daily confluence detector shows a lack of healthy support.

More Bitcoin News

Ethereum Classic Price Analysis: ETH/USD bears flip the bulls, target shifts to $5

Ethereum Classic is facing the ultimate correction following a massive bull-run that had it hit January highs around $12 from December lows at $3.41. The persuasive urge upwards has, however, ended in losses due to a lack of ...

More Ethereum Classic News

XRP/USD struggles to save triangle support at its peak

Ripple price struggles to stay above $0.22 support amid a forceful downtrend momentum from recent highs at $0.255. The formation of a falling triangle hints a bullish breakout if its support is defended and XRP bulls allowed to focus on $0.24 resistance.

More Ripple News

DASH Price Analysis: DASH/USD dips below the $100-mark

DASH/USD fell from $102.75 to $97.45, dropping below the $100-level in the process. DASH/USD has charted three straight bearish sessions in the daily chart after the bulls ran out of steam at the $110.60-level.

More Dash news

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls piggy-back on altcoins rally

This week was marked by a strong altcoins rally on the cryptocurrency markets. Bitcoin SV (BSV) and Dash experienced the sharpest price increase over 100% in recent seven days...

Read the weekly forecast

BTC

ETH

XRP