TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Ripple Price Analysis: XRP/USD may return to $0.1800 before another bullish assault

  • XRP/USD has been growing strongly since the beginning of the day.
  • The intraday RSI implies that the coin may retreat from the recent levels.
Ripple Price Analysis: XRP/USD may return to $0.1800 before another bullish assault
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst


XRP/USD is changing hands at $0.1850 with 2.6% of gains since the start of the day. The third-largest digital asset with the current market value of $8 billion has been moving within a strong bullish trend amid expanding volatility. Ripple's coin registered the intraday low of $0.1784 and has been growing ever since. 

XRP/USD: Technical picture

On the intraday basis, XRP/USD is supported by a psychological $0.1800 reinforced by SMA50 1-hour and $0.1770, which coincides with an upside trend line from March 16 low.  Now that it is out of the way, the upside is likely to gain traction with the next focus on $0.1900 reinforced by the upper line of the daily Bollinger Band, and $0.2030 (SMA50 daily). Considering the downside-looking RSI on a daily chart, XRP/USD is well-positioned for the further upside in the long run.

XRP/USD daily chart

Meanwhile. on the intraday charts, the RSI is ready to revers from the overbought territory, which means XRP/USD is vulnerable to the short-term correction towards the above-mentioned support zone of $0.1800-$0.1770. If this area gives way, the sell-off may be extended towards $0.1760 (SMA200 1-hour) and psychological $0.1600.

XRP/USD 1-hour chart


 

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

More from Tanya Abrosimova
Share:

Editor's Picks

Why altcoin season isn't coming back — and what stole its capital

Why altcoin season isn't coming back — and what stole its capital

If, after two years of being frozen in ice, Katara and Sokka woke you up to the crypto market, it would seem like 100 years have passed. With Bitcoin soaring to record highs just over a year ago, everyone expected a routine altcoin season, where investors take profits from the top crypto to chase higher returns in altcoins.

Bitcoin Weekly Forecast: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin Weekly Forecast: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin recovers, trading above $78,000 on Friday, but the 50-week SMA near $78,760 continues to cap its upside. A hawkish Fed outlook, escalating Middle East tensions, and the CLARITY Act's failure to advance in the US Senate could limit BTC upside.

Why Bitcoin's over 30% rebound doesn't mean the bear market cycle is done

Why Bitcoin's over 30% rebound doesn't mean the bear market cycle is done

BTC has staged a strong recovery after falling to a yearly low of $57,800 in July, gaining nearly 33% and recording two consecutive months of gains in July and August. Is this the start of a new bullish phase, or simply another recovery within a broader bear-market cycle?

Crypto Today: Bitcoin, Ethereum, XRP eye short-term breakout as bulls return

Crypto Today: Bitcoin, Ethereum, XRP eye short-term breakout as bulls return

Bitcoin trades higher near $78,000 on Friday as bulls return after early-week macro uncertainty and regulatory headwinds. Ethereum aligns with the broader crypto market’s neutral-to-bullish outlook, holding support above $2,400 and gaining momentum for a short-term breakout at $2,500.

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin (BTC) price action has remained resilient this week, trading above $78,000 at the time of writing on Friday, heading toward a key resistance zone. Institutional demand shows early signs of weakness, with spot Exchange Traded Funds (ETFs) on track for a second straight week of outflows, with over $420 million recorded through Thursday amid escalating Middle East tensions.