Ripple price prediction: XRP/USD capped by the long-term trendline - XRP confluence


  • XRP/USD stays below the key barrier created by a trendline.
  • A sustainable move above $0.2860 will create a strong upside momentum.

Ripple’s XRP has been range-bound with bearish bias recently. The third digital asset with the current market value of $11.9 billion retreated to the area below $0.2800 after a failed attempt to break above the long-term sloping trend line (currently at $0.2810). At the time of writing, XRP/USD is changing hands at $0.2770, down 1.4% from this time on Wednesday and unchanged on a day-on-day basis. 

Ripple’s XRP confluence levels 

Looking technically, a strong resistance created by the trendline may lin=mit the recovery and push the price inside of the triangle. In this case, the coin will continue moving with a bearish bias towards the lower line of the said triangle pattern (currently at $0.2560) Let’s have a closer look at the technical levels that may serve as resistance and support areas for the coin.

Resistance levels

$0,2860 - 61.8% Fibo retracement monthly, 23.6 Fibo retracement daily, the long-term trendline;
$0,2900 - Pivot Point one-day Resistance 1, the upper line of four-hour Bollinger Band, SMA100 (Simple Moving Average) daily, Pivot Point one-week Resistance 3;
$0,3000 - psychological level, the upper line of one-day Bollinger Band.

Support levels

$0,2630 - 161.8% Fibo projection, the highest level of the previous week, Pivot Point one-week Resistance 1, SMA200 four-hour;
$0,2530 - the lowest level of the previous year, 38.2% Fibo retracement weekly;
$0.2450 - 61.8% Fibo retracement weekly.

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 Chart Analysis: Symmetrical triangle breakout to power BTC/USD above $9700

BTC/USD has charted a symmetrical triangle breakout in the last hour, opening doors for a test of the pattern target at 9746. Despite the bullish breakout, its likely to remain an uphill task for the bulls to achieve the target, given a bunch of healthy resistance levels. 

More Bitcoin News

XRP/USD: Path of least resistance appears to the downside

XRP/USD is struggling to extend its recovery beyond 0.20 on Saturday, as the bulls remain in a wait-and-see for the fourth straight session. While extending the range play, the bears are seen fighting back control, as suggested by the near-term technical set up.

More Ripple News

BCH/USD: Bulls eye $280 amid falling wedge breakout

Bitcoin Cash (BCH/USD) is consolidating the latest uptick to a daily high of 257.50, having recovered losses following a dip to 253.47. The No. 5 coin has charted a bullish breakout on the hourly chart. The bulls look to extend the upside break to $280.   

More Bitcoin Cash News

Crypto Market Update: Ethereum outperforms its main rivals on the road to recovery

Crypto bulls are trying hard to extend the recovery on Saturday. Ethereum outperforms Bitcoin and Ripple, looking to settle the week with 4.50% gains. The top 2 widely traded coins are poised for additional upside.  

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD needs to go down again before it goes up

After a head-spinning volatility at the beginning of the week, BTC/USD settled above $9,600 with minor gains on a week-on-week basis. A shall Doji candle on a weekly chart is an alarming signal that the bulls are exhausted by uncertainty and large price swings. 

Read the weekly forecast

BTC

ETH

XRP