Ripple’s price analysis: XRP/USD bulls come to life and bring $0.50 into view

  • XRP/USD gains 7% on a day-on-day basis amid strong upside momentum.
  • The critical resistance is created by psychological $0.50.

Ripple’s XRP spiked to $0.47 during Asian hours as the majority of altcoins has come to life and headed to new highs. At the time of writing, XRP/USD is changing hands at $0.4640, having gained over 4% since the beginning of Thursday and over 7% since this time on Wednesday. XRP now takes the third place with the current market capitalization of $19.3 billion and an average daily trading volume of $2.8 billion.

Looking technically, XRP/USD is supported by psychological $0.46. A sustainable move below this handle will open up the way towards the next bearish aim of $0.4450, strengthened by SMA50 Simple Moving Average) on 30-min chart. This area will slow down the retracement and may serve s a basis for another bullish leg. However, once it is cleared, the sell-off is likely to continue towards 23.6% Fibo retracement at $0.4270 with SMA200 (30-min) located marginally below this barrier).

On the upside, the initial resistance is created by the recent high of $0.47, though the ultimate bull’s aim awaits us on approach to $0.50. This resistance is a hard nut to crack for the bulls, though, once it is out of the way, the upside is likely to gain traction with the next focus on $0.5660 (November 2018 high).

XRP/USD, 30-min chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC/USD closes in on critical $10,000

Bitcoin (BTC/USD) posted small losses on Saturday and closed the day above the critical Fibonacci level to gain traction during the Asian trading hours. As of writing, BTC was trading at $9,940, adding 2.75% on the day.

More Bitcoin News

Ripple Price Weekly Forecast: XRP/USD road to $0.35 mapped

As the week grinds toa halt, cryptocurrencies are rolling in a positive direction. The positive resonation comes after a couple of days that saw bulls paralyzed in the cryptocurrency market.

More Ripple News

Ethereum Price Analysis: ETH/USD adds more than 4%, trades above $270

Boosted by the positive mood surrounding the major cryptocurrencies, Ethereum easily erased the losses it suffered on Saturday and preserved its bullish momentum to climb above $270.

More Ethereum News

XMR/USD bulls retain momentum and keep the price above $80

XMR/USD bulls managed to retain control in the early hours of Saturday as the price went up from $80.40 to $81. XMR/USD is currently trending in a downward channel formation after it had ...

More Monero News


Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast