TRENDING:
US CPI
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Ripple Technical Analysis: XRP/USD aiming to climb above $0.235 but needs to consolidate first

  • XRP/USD has seen a surprising recovery climbing from $0.169 to $0.21.
  • The daily chart is an uptrend now with a lot of bullish momentum.
Ripple Technical Analysis: XRP/USD aiming to climb above $0.235 but needs to consolidate first
Lorenzo StroeLorenzo StroeIndependent Analyst

XRP is seeing even more continuation after the surge towards $0.207 on July 8. The daily RSI is on the verge of overextension, and the trading volume keeps increasing. XRP/USD breached above a long-term trendline formed on the daily chart and seems to be ready to crack the last high at $0.235.

XRP/USD daily chart

XRPUSD

The overextended RSI could indicate that a pullback is nearby. The 12-EMA and the 26-EMA have crossed bullishly and the MACD continues climbing. Bulls will use the $0.20 level as support followed by the EMAs when they catch up to the price. 

XRP/USD weekly chart

xrpusd

Although XRP has established a clear higher low at $0.169 compared to $0.11. Bulls still need to break $0.2357 to confirm a weekly uptrend. So far, they have managed to climb above the 12-EMA and the 26-EMA and are only facing resistance at $0.215.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Editor's Picks

Cardano Price Forecast: Approaches critical support as correction risks grow

Cardano Price Forecast: Approaches critical support as correction risks grow

Cardano (ADA) recovers slightly, trading at $0.206 at the time of writing on Friday, inches above the critical support zone after losing more than 6% so far this week. Weakening derivatives data and fading bullish momentum suggest a bearish near-term outlook, with a decisive close below the support zone potentially triggering a deeper correction for ADA.
Crypto Overview: Bitcoin slips below $77,000 – Raydium, Falcon Finance hold gains

Crypto Overview: Bitcoin slips below $77,000 – Raydium, Falcon Finance hold gains

Bitcoin price trades below $77,000 on Friday, extending its capitulation from the previous week’s high at $82,300. Broader market consensus points to a higher likelihood that the US Federal Reserve could raise interest rates at the September meeting, as inflation concerns rise amid the war with Iran.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC pullback, ETH stalls, XRP weakens

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC pullback, ETH stalls, XRP weakens

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) remain under pressure on Friday as the broader cryptocurrency market extends its losses over 4%, 2.5% and 5%, respectively, this week.
Ethereum Price Forecast: ETH holds above $2,400 as PPI data strengthens rate hike expectations

Ethereum Price Forecast: ETH holds above $2,400 as PPI data strengthens rate hike expectations

Ethereum (ETH) is down 0.7% on Thursday as the second-largest cryptocurrency looks to recover from earlier pressure following the release of stronger US inflation data. The Producer Price Index (PPI) for final demand rose 0.4% in August, matching market expectations after a revised 0.1% increase in July, according to the US Labor Department.
Bitcoin: Gearing up for a sharp move

Bitcoin: Gearing up for a sharp move

Bitcoin (BTC) is trading around $81,000 on Friday, up over 4% so far this week, and awaits a key catalyst that could determine its next directional move. Strong institutional demand is supporting the bullish price action, with spot BTC Exchange Traded Funds (ETFs) on track to record a third straight week of inflows.