|

Ripple Price Prediction: XRP bulls can ignore pullback from immediate hurdle around $0.49

  • Ripple picks up bids after snapping a four-day winning streak.
  • Successful break of five-week-old resistance, trading beyond 50-day SMA and an ascending trend line from January 27 back bulls.
  • Sellers should look for entries below $0.4300, buyers may wait for fresh monthly high.

XRP/USD fails to keep the sellers on board, despite recent declines, as the quote firms up around mid-$0.4600s during early Thursday. The altcoin took a U-turn from a two-week-old resistance line the previous day but couldn’t extend the losses to even the nearest support, namely the 50-day SMA.

Also favoring ripple buyers could be the XRP/USD trading above a six-week-long support line and a clear run-up beyond the previous resistance line from February 01, not to forget the receding bearish bias of the MACD.

That said, the XRP/USD bulls currently eye the monthly top near $0.4950 ahead of the targeting the $0.5000 threshold.

During the quote’s sustained run-up past-$0.5000, $0.5830 and the mid-February tops near $0.6430 should be watched before the previous month’s top of $0.7564.

Should XRP/USD stays weak below the stated resistance line, currently around $0.4900, sellers can keep a 50-day SMA level of $0.4390 on the radar.

Though, a confluence of previous resistance and an ascending trend line from late January, currently around $0.4300, will be a tough nut to crack for the XRP/USD bears.

Overall, ripple buyers hold the reins but look for conviction before flashing notable gains.

XRP/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price0.4663
Today Daily Change-0.0192
Today Daily Change %-3.95%
Today daily open0.4855
 
Trends
Daily SMA200.4768
Daily SMA500.4359
Daily SMA1000.4215
Daily SMA2000.3522
 
Levels
Previous Daily High0.4876
Previous Daily Low0.4717
Previous Weekly High0.4945
Previous Weekly Low0.3934
Previous Monthly High0.7565
Previous Monthly Low0.3406
Daily Fibonacci 38.2%0.4815
Daily Fibonacci 61.8%0.4778
Daily Pivot Point S10.4756
Daily Pivot Point S20.4657
Daily Pivot Point S30.4597
Daily Pivot Point R10.4915
Daily Pivot Point R20.4975
Daily Pivot Point R30.5075

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

More from Anil Panchal
Share:

Editor's Picks

Solana Price Forecast: SOL consolidates as ETF inflows and on-chain activity rise

Solana (SOL) edges lower on Tuesday, following a 3% rise to start the week, extending its consolidation around the $100 psychological mark. Institutional confidence holds firm in the layer-1 blockchain, with $11 million in inflows on Monday, showing signs of increased risk appetite ahead of the CLARITY Act cloture vote scheduled for Tuesday.

CLARITY Act faces fresh pressure ahead of key Senate cloture vote
The CLARITY Act is facing fresh opposition from a bipartisan group of state attorneys general ahead of a key Senate vote, with the officials urging lawmakers to reject the legislation unless changes are made to preserve state enforcement powers.
Ripple and Stellar outlook: Extend gains as derivatives support upside

Ripple and Stellar extend their gains after surging over 6% and 8%, respectively, on the previous day. In addition, improving derivatives metrics support a bullish bias, signaling further gains for both altcoins. Derivatives data shows bullish bias among traders. CoinGlass’ long-to-short ratios for XRP and XLM read 1.15 and 1.35, respectively, on Tuesday.

Crypto Overview: Bitcoin remains volatile amid CLARITY Act vote – Zcash, Stellar rally
Bitcoin (BTC) holds steady around $78,000 on Tuesday, sustaining its roughly 2% recovery from the previous day. Broader cryptocurrency market volatility remains elevated ahead of the scheduled CLARITY Act cloture vote on Tuesday. Zcash (ZEC) and Stellar (XLM) retain bullish momentum, emerging as the top performers over the last 24 hours.
Bitcoin: BTC retreats as macro headwinds grow
Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.