TRENDING:

GBP/USD

XAU/USD

Ripple technical analysis: Can XRP/USD stay above $0.40?

XRP/USD has broken above the psychological $0.40 mark, gaining support above several important technical levels.
Bollinger bands and MACD oscillator indicate increasing volatility and bullish momentum in Ripple.

Rajarshi Mitra Independent Analyst

XRP/USD daily chart

XRP/USD went up from $0.393 to $0.402 throughout this Wednesday. In the early hours of Thursday, the price of XRP/USD went up further to $0.408. The price has gained support on the upward trending line. Immediate resistance lies at $0.41.

The daily XRP/USD is trending below the 20-day simple moving average (SMA 20) curve and above the SMA 200 and SMA 50 curves. The Elliot oscillator has now gone into the negative zone following 13 straight bearish sessions.

XRP/USD 4-hour chart

The latest session of the 4-hour XRP/USD price has gone above the upper curve of the 20-day Bollinger band, indicating that the price is overvalued. The five latest sessions are trending above the SMA 20 curve.

The widening of the Bollinger jaw shows increasing market volatility. The signal line is diverging away from the moving average convergence/divergence (MACD) line, indicating increasing bullish momentum.

XRP/USD hourly chart

The hourly XRP/USD was trending in a downward channel formation before the bulls took the price up from $0.399 to $0.408 within three hours.

The price was trending in the green Ichimoku cloud before the price had a bullish breakout. The relative strength index (RSI) indicator has crept into the overbought zone and is trending at 71.

Key Levels

XRP/USD

Overview
Today last price	0.4089
Today Daily Change	0.0061
Today Daily Change %	1.51
Today daily open	0.4028

Trends
Daily SMA20	0.4143
Daily SMA50	0.3677
Daily SMA100	0.3459
Daily SMA200	0.3388

Levels
Previous Daily High	0.4041
Previous Daily Low	0.3889
Previous Weekly High	0.4646
Previous Weekly Low	0.3839
Previous Monthly High	0.4741
Previous Monthly Low	0.2917
Daily Fibonacci 38.2%	0.3983
Daily Fibonacci 61.8%	0.3947
Daily Pivot Point S1	0.3931
Daily Pivot Point S2	0.3834
Daily Pivot Point S3	0.3779
Daily Pivot Point R1	0.4084
Daily Pivot Point R2	0.4139
Daily Pivot Point R3	0.4236

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.