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Ripple Technical Analysis: XRP/USD jumps above $0.32 after another strong breakout

  • XRP/USD is currently trading at $0.30 after a brief pullback.
  • XRP’s bullish momentum is considered to be robust.
Ripple Technical Analysis: XRP/USD jumps above $0.32 after another strong breakout
Lorenzo StroeLorenzo StroeIndependent Analyst

XRP has finally seen a significant and convincing spike above $0.30 and managed to touch $0.325 before a pullback. Unfortunately, bulls haven’t been able to set support levels on the way up, something that will be extremely important when XRP starts consolidating.

XRP/USD daily chart

XRPUSD

Of course, XRP is in a clear uptrend way above any daily EMA and still trading at $0.302. Buyers need to set a support level around this area in order to get another healthy leg up. The most important resistance level is now $0.346, the 2020-high established in February. As for support, XRP can only rely on psychological levels like $0.30 and the daily 12-EMA at $0.253 and the 26-EMA at $0.2294.

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.

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