Ripple's Price Analysis: XRP/USD settles above $0.1700, bullish sort-term trend confirmed

XRP/USD is bullish as long as it stays above $0.1700.
The critical local resistance is created by Saturday's high at $0.1800.

Ripple's XRP is one of the best-performing coins out of top-10. The coin has gained over 2% on a day-to-day basis and settled above technically important $0.1700 despite bearish sentiments on the market. At the time of writing, XRP/USD is changing hands at $0.1730. Ripple's market capitalization reached $7.6 billion, while average daily trading volumes settled at $2.2 billion.

XRP/USD: Technical picture

On the intraday charts, XRP/USD is moving within a short-term bullish trend with the initial critical support at $0.1700. This barrier is reinforced by the upside trend line on the 1-hour chart and the lower line of the 1-hour Bollinger Band. If it is broken, the sell-off may gain traction and bring $0.1760-$0.1670. This area served as a support area and stopped the decline on Saturday. Also, it blocks the way to a critical $0.1600.

On the upside, the local resistance is created by the middle line of the 1-hour Bollinger Band at $0.1740. It is closely followed by the upper line of the same Bollinger Band at $0.1770 and psychological $0.1800 coupled with Saturday high ($0.1803). A sustainable move above this level is needed for the upside to gain traction with the next short-term target at $0.1886 (March 27 high) and $0.1900.

XRP/USD 1-hour chart

Share: Cryptos feed

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.