Ripple’s XRP Price Analysis: XRP/USD is summoned to trade within a range-block

  • Ripple’s XRP nursing minor losses of just some 0.3% late on Wednesday, markets still unable to commit to a trend.
  • XRP/USD price moving within a range-block, high at $0.3800, low at $0.3500.

Ripple’s XRP price was seen trading down around 0.30% in the very late part of trading on Wednesday. This following on from another session of limited price action, no commitment seen in sight from either camp.

XRP/USD has been moving within a narrow range-block formation since 28th December 2018. In terms of news flow, Ripple in an official blog post detailed that several financial institutions are leveraging XRP. They detailed that 13 financial institutions have started to leverage the Ripple blockchain through RippleNet, with the total number of banks in the Ripple ecosystem now see at 200.

In terms of resistance, this can be seen running from $0.3800-0.4000. XRP/USD has not traded firmly above the $0.4000 price region since 24-25th December 2018. Should the bulls breach the highlighted range-block, chunky buying pressure will likely be seen. Support is noted at the $0.3500 figure, the lower part of the range.


XRP/USD 4-hour 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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD shoots higher following Bakkt news

Above is the 5-minute BTC/USD chart which shows the powerful surge in volume when the Bakkt announcement was made. The arrow shows the exact time of the release, prior to the story BTC/USD was trading close to 10,000.00 and bouncing off the mean value price for the day. 

More Bitcoin News

Ripple price analysis: Confluence detector shows a lack of healthy resistance and support levels

Ripple is currently trending in a flag formation and is priced at $0.259. This Thursday, the bulls kicked in after the price fell to $0.242 and took the price up to $0.264. 

More Ripple News

Cardano Foundation partners with Berlin blockchain venture studio Konfidio, market reaction muted

The Cardano Foundation revealed that they have partnered up with Berlin blockchain venture studio Konfidio. The main aim of the partnership will be to execute real-world business cases on the Cardano blockchain. According to their announcement:

More Cardano News

Ethereum: ETH/USD bear trapped below broken support range

Ethereum defended the support at $170 before a shallow recovery pulled the price above $180. ETH/USD must reclaim position in the broken support range between $190 - $200.

More Ethereum News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast