Ripple price analysis: XRP/USD looks to consolidate its position above the $0.30 zone


  • XRP/USD is floating inside the green Ichimoku cloud.
  • Ripple is still struggling to break past the upward trending line.

Ripple has had a bullish breakout from a flag formation as it looks to consolidate its position above the $0.30 level. Currently, the price has gone up from $0.302 to $0.304 and is floating inside the green Ichimoku cloud. The hourly breakdown shows us that intraday support and resistance lie at $0.299 and $0.305, respectively. This tells us that the bulls will want to target two different zones - $0.305 and the upward trending line to continue its upward momentum. 

XRP/USD daily chart

fxsoriginal

The daily price chart is floating above the 20-day Simple Moving Average (SMA 20) and SMA 50 curves. The Moving Average Convergence/Divergence (MACD) indicates sustained bullish market momentum, while the Elliott Oscillator has had a red session following three straight green sessions. The Bollinger width is around 0.15 showing standard market volatility.
 

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

BTC/USD weekend action brushes shoulders with $7,600

Cryptocurrencies stagnated within familiar levels over the weekend. Bitcoin action impressively jumped above the resistance levels at $7,400 and $7,500. The upward leg jumped above $7,600 before forming a high at $7,638.

More Bitcoin News

Ripple Price Analysis: XRP/USD gazes on a risky triangle breakdown

Ripple is ranged confined between $0.21 and $0.2336. The recovery from the low in November around $0.22 lost steam short of $0.24. On the flipside, $0.21 is standing out a formidable support area.

More Ripple News

LTC/USD price halved afte halving, hash rate dropped by 70%

Litecoin (LTC), the sixth-largest digital asset with the current market capitalization of $2.9 billion, has been one os the worst-performing coins of the month out of top-20.

More Litecoin News

Tezos towers the weekend session testing $1.70 crucial hurdle

Tezos was arguably the best performing crypto in the weekend session. After closing the session on Friday at $1.38, the bullish action majestically surged over 30% to brush shoulders with $1.61. Both the trading volume and the market cap corrected higher, where XTZ crossed the $1 billion hurdle. 

More Tezos news

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast

BTC

ETH

XRP