Ripple Price Forecast: XRP/USD draws nearer to $0.30 following Bitcoin spike past $11,500

  • Ripple bulls cling tight to the upward momentum following a break above the 38.2% Fibonacci level.
  • Bitcoin clears the path to $12,000 after sending $10,500 in the rearview.

Ripple made some amazing sweeping moves during July’s last week’s trading. In addition to rising above a tough resistance zone at $0.23, the fourth largest cryptocurrency has proved that it has a formidable bullish case towards $0.30. This follows a break above another key resistance hurdle at $0.25.

The trading on Saturday has seen Ripple start the month of August in the green by ascending to highs around $0.2693. The rally was more or less in tandem with Bitcoin (BTC) surge above this week’s barriers at $11,200 and $11,400. BTC/USD soared to highs above $11,500 and even pierced through the next hurdle at $11,600. Bitcoin is valued at $10,634 at the time of writing amid a growing bullish momentum.

Read more: Bitcoin Price Prediction: BTC/USD hits the takeoff threshold to $12,000

Ripple technical analysis

Ripple price action has been bullish since it broke above descending trendline resistance (since May). The move also coincided with the break above the 50-day SMA and the longer-term 100-day SMA. Massive gains came into the picture after the seller congestion at the 38.2% Fibonacci level resistance was pushed in the rearview. Since then, the price has remained mainly in the hands of the bulls.

At the moment, the RSI sharp ascent within the overbought region shows that the price action to $0.30 is likely to occur this weekend. The same bullish scenario is emphasized by the divergence above the MACD even as the indicator moves higher in the positive region. XRP/USD is trading at $0.2665 but buyers have eyes on $0.28 resistance as it would function as the springboard to $0.30.

XRP/USD daily chart

XRP/USD price 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

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: Bulls eye $12,000 amid falling channel breakout

Bitcoin (BTC/USD) has finally broken the recent consolidative phase to the upside, as the bulls cleared the $11,700 resistance. Technical set up favors BTC bulls, eyes set on $12,000 mark. 

More Bitcoin News

BCH/USD: Downside appears compelling amid bearish crossover

Bitcoin Cash (BCH/USD) is consolidating in a $10 narrow range after a volatile Friday, as the bears gear up for the next push lower. Hourly RSI inches lower below the midline, with bearish HMAs crossover. A test of Friday's low at $277 is on the cards. 

More Bitcoin Cash News

VET/USD: Bullish bias intact while above 21-DMA

The bullish tone around VeChain (VET/USD) remains intact on Saturday, despite a temporary pullback seen a day before. The path of least resistance appears to the upside, especially after it charted a descending triangle breakout on the daily sticks last Tuesday.

More Cryptocurrencies News

Cryptocurrency Market Update: Ethereum outperforms amid broad-based buying spree

Buying-wave sweeps across the crypto board on Saturday. Ethereum leads the advance among the top 3 favorite crypto coins. Will the bulls extend control into Sunday after Friday’s decline?

More Ethereum News


Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast