|

Ripple Technical Analysis: XRP/USD rock-solid support at $0.28 and the impending spike past $0.30

  • Ripple bulls firmly hold onto the key support at $0.28.
  • Consolidation takes precedence amid push for gains above $0.30.

Ripple has remained stable above the key support at $0.28. There have been incidences of the price sliding below this level but the drops have been minor. Moreover, immediate reversal have seen XRP climb back above $0.28. On the upside, buyers have not been able to overcome the resistance at $0.29 let alone the critical level at $0.30.

For now, Ripple is trading at $0.2873 as bulls struggle to build momentum upon the support at $0.28. Recovery is likely to continue being limited especially with the RSI clinging tightly to the midline.

On other hand, the MACD’s downward movement in the positive region highlights the fact that selling pressure is present. This also calls to buyers to remain alert and defend support at $0.28 in order to avoid potential declines eyeing $0.26 and $0.20 support areas.

Consequently, all the top three cryptocurrencies are in consolidation. Bitcoin is holding above $11,600 support as discussed earlier. Similarly, Ethereum also trading sideways above $390. Watching the price action of Bitcoin and Ethereum can be a good indicator for XRP.

At the same time, if volume continues to build, it would increase XRP’s chance of hitting levels above $0.32. For now, keeping the price above $0.28 remains vital to the potential bullish case.

XRP/USD daily chart

XRP/USD price chart

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

More from John Isige
Share:

Markets move fast. We move first.

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

By subscribing you agree to our Terms and conditions.

Editor's Picks

Ripple faces persistent bear risks, shrugging off ETF inflows

Ripple is extending its decline for the second consecutive day, trading at $2.06 at the time of writing on Friday. Sentiment surrounding the cross-border remittance token continues to lag despite steady inflows into XRP spot ETFs. 

Luna Classic soars 20% as Do Kwon's sentence hearing looms

Luna Classic surges 20% on Friday, extending its recovery for the fourth consecutive day. Roughly 959 million tokens have been burned in December so far, fueling LUNC's recovery.

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000. 

Ethereum strengthens against BTC post-Fusaka, targeting $3,200 breakout

Ethereum trades above $3,100 on Friday, with bulls aiming for a breakout above a two-month-old resistance trendline. Ethereum gains strength against Bitcoin as demand for the major altcoin increases after the Fusaka upgrade.

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.

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.