• Ripple's coin has recovered some ground after a strong sell-off during early Asian hours.
  • The short-term recovery may be limited by the resistance area on approach to $0.32.

Ripple's XRP dropped below $0.30 handle and touched an intraday low at $0.2946. However, since that time, the coin managed to stage a strong recovery to trade above $0.3100 at the time of writing. XRP/USD is still down over 6% on a day-on-day basis, though the coin has gained regained 3% of its value since the beginning of Monday trading. 

Ripple's technical picture

On the intraday charts, XRP/USD bulls have hit a brick wall at $0.3170. This barrier has been limiting the coin's recovery since Sunday. Once it is out of the way, the upside momentum will gain traction with the next focus on $0.32 followed by SMA200 (Simple Moving Average) on 15-min chart and SMA50 on 1-hour chart at $0.3240. 

Meanwhile, it is worth noting that the short-term RSI (the Relative Strength Index) has reversed to the downside, which means we may see another leg down towards $0.31 and $0.3090 (SMA50 15-min) before the recovery is resumed. 

If the above0said support area is broken, the sell-off may gain traction and push the price towards a critical $0.30, followed by the recent low of $0.2946. 

XRP/USD, 15-min 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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Flat, Cryptocurrencies on a Positive Tone

Cryptocurrencies were slightly positive during the last 24 hours, except for Bitcoin, who failed to cross the $8,300 level and created a large candle down to $8.150, tho, then, move back to the $8,200 range. 

More Bitcoin News

Ripple price analysis: XRP/USD grinds to a halt ahead triangle breakout

Ripple performance in October has been relatively better compared to other major digital currencies. The world’s third-largest crypto is stepped above $0.30 last week but failed in sustaining gains towards $0.31.

More Ripple News

Ethereum market update: ETH/USD slips back inside the range, $180.00 still out of reach

ETH/USD hit $178.28 on Monday and retreated to $174.57 by press time. The second-largest coin is moving inside a tight range amid slow trading activity in sync with the market. 

More Ethereum News

NEO price analysis: NEO/USD on recovery track, still below critical resistance of $7.80

NEO, currently the 21st largest coin with the total market value of $527 million, has gained about 1.7% in recent 24 hours to trade at $7.5 at the time of writing. Since the beginning of Tuesday, NEO/USD has gained about 1%.

More NEO News


Bitcoin Weekly Forecast: Nothing to crow about

Bitcoin (BTC) attempted a recovery above $8,400 and resumed the decline into the end of the week.

Read the weekly forecast