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

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

Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

The biggest story this week was Tuesday’s US midterm elections, which saw Democrats win control of both the House and the Senate in a clear blue wave. This political shift in the US has triggered sharp price swings across the cryptocurrency market.

Ripple nears oversold territory as traders eye buying opportunities

Ripple nears oversold territory as traders eye buying opportunities

Ripple remains structurally capped near $1.20 after selling pressure wiped out the early-week rise to $1.34, driven by the US midterm elections. Market participants exhibited regulatory concerns ahead of the Democrats taking control of Congress in January, with many repositioning and adjusting their portfolios.

Bitcoin Weekly Forecast: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin Weekly Forecast: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin is down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. A sharp sell-off in US technology stocks reversed Bitcoin’s post-election rally on Thursday, triggering a wave of liquidations across the market and intensifying bearish pressure.

Post-US midterm elections market sell-off weighs on PI

Post-US midterm elections market sell-off weighs on PI

Pi Network (PI) continues to attract sellers, as the post-US midterm results triggered a sell-off in the US tech stock market and also wiped out over $1 billion from the crypto market.

Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin (BTC) remains under pressure, down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. Persistent outflows from US-listed BTC spot Exchange Traded Funds (ETFs), a sharp sell-off in US technology stocks, and rising market liquidations are weighing on sentiment and limiting Crypto King’s recovery attempts.