Ripple price analysis: XRP/USD makes little progress on the weekly close, however further buying pressure eyed
- Ripple on the weekly looks attractive for some further upside, targets eyed at $1.09 and then $1.20.
- Within a 4-week period XRP/USD has jumped from $0.46 up to highs of $0.96.
The Ripple price is seen X on Friday, as managing to make a late push towards the end of the week, preventing any noticeable losses for the crypto, after trading within consolidation mode. It managed to clear some resistance at $0.85, which may clear some way for $1.00 and beyond.
Looking at the potential weekly close, there has been little progress for XRP/USD in comparison to last week. Another trading week looking at a broadly flat close, despite this though, the performance has been steadier to the upside. Ripple has jumped from $0.46 up to highs of $0.96, within a 4-week period, which is quite some gain.
XRP/USD bulls will be taking advantage, after the price managed to move above some resistance seen at $0.85. Looking at the weekly view, there doesn’t appear to be much in the way of $1.00 and beyond for Ripple. Upside targets remain eyed at $1.09, $1.20, which may not be too far away for achievement. Support is seen within the early $0.80 region, then back down towards the mid-high $0.60 range.
XRP/USD daily chart
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
