• Ripple's coin has been range-bound, moving in sync with the market.
  • XRP/USD bulls need to clear $0.3200 to gain the upside momentum.

Ripple's XRP has not been very active recently. The third-largest digital asset tested $0.32 barrier but failed to clear it out. Slow trading activity and non-existent volatility confine the coin to the narrow range limited by $0.3200 on the upside and $0.30 on the downside.

Ripple has a market value of $13.6 billion. The coin has gained over 3% in recent 24 hours and stayed unchanged since the beginning of Asian trading on Wednesday.

Read also:
Ripple to Congress:  don't paint us with one brush

Ripple partners with Currency Bird

Ripple's technical picture

On the intraday charts, XRP/USD bulls managed to make their way above $0.3150 barrier created by SMA50 (Simple Moving Average) and SMA100 on 4-hour chart. The next strong resistance is created by the above-mentioned $0.3200. We will need to see a sustainable move above this handle for the upside to gain traction and take the coin towards $0.34. This is the highest level since July 20. Once it is out of the way, the upside is likely to gain traction with the next focus on $0.3490 (SMA200 4-hour).

On the downside, the initial support awaits at $0.3150. It is followed by psychological $0.31. This area creates a strong barrier and might stop the sell-off for the time being; however, a sustainable move lower will increase the downside momentum and push the price towards psychological $0.300 and $0.2834, which is the lowest level since July 16.

XRP/USD, 4-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: Is this just a small blip?

Bitcoin is moving lower on Friday but it has found some short term support. The BTC/USD found support at the 2.00 Fib extension level close to 8,500. On the topside, the area to watch for resistance is marked in red. This red zone has been used as support and resistance in the past and if broken could indicate the move lower was just a blip.

More Bitcoin News

ETH/USD deadly weekly evening star followed up with another bearish candle

Ethereum price is trading in the red by 3.30% in the session on Friday. ETH/USD is running towards a complete reversal of 2020 gains. 

More Ethereum News

XRP/USD is stuck in the middle of a very congested area

Ripple trades 2% lower in another down day for cryptos. The price is now between 3 key support and resistance zones.

More Ripple News

LTC/USD break of $50 would be devastating

Litecoin price is trading in negative territory by 4.50% in the session on Friday. LTC/USD has been pushing south for two consecutive weeks, with bears in control.

More Litecoin News


Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast