Ripple’s XRP Price Analysis: XRP/USD reclaiming the big $0.50


  • Bulls storming ahead in latest recovery, after being hammered at the start of the session on Monday.
  • XRP/USD is down just some 2%, earlier on it was nursing double digit losses.
  • Price back within $0.50 area, moving to the upside within an ascending channel formation.

 

Ripple’s XRP made a decent recovery in the latter stages of trading on Monday, trading down just 2%. The price was nursing losses into the double digits, in the early part of the session. XRP/USD was forced to retreat within a known area of demand, helping put it back on stable footing, inviting firm buyers.

Decent buyers came in around $0.4650, a demand zone, that has proven on several occasions to find buyers. Price action in the latest recovery, has formed an ascending channel formation, as it moves back to the big $0.50 territory.

Technically, there isn’t too much resistance until the $0.5200 area. This is where the upper part of channel is seen, also a touted area of supply. XRP/USD having last faltered here up at the highs on 18th November session.

XRP/USD 60-minute 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

Bitcoin price analysis: Downside opening up towards November lows

The bears take a breather over the last hours, allowing a brief consolidation phase in Bitcoin (BTC/USD), the most favorite cryptocurrency, having reached the lowest levels in two-and-a-half weeks at 7,007 in early trading this Sunday. The coin remains vulnerable amid bearish technical set up.

More Bitcoin News

Tezos technical analysis: Bears continue to guard $ 1.70/71 area

Tezos (XTZ/USD), is in the red zone for the third straight session on Sunday, although the selling momentum has weakened over the last hours following a turnaround in the sentiment across the crypto board. 

More Tezos News

TRON price prediction: Teasing head-and-shoulders breakdown

TRON (TRX/USD) stalled its overnight decline and jumped sharply from daily lows of 0.01380 in Sunday’s early trading. Despite the recovery attempts, TRX/USD remains exposed to further downside risks.

More TRON News

Top 3 Price Prediction BTC, ETH, XRP: Sell the rallies– key theme ahead?

The world’s no. 1 digital coin, Bitcoin, is seen fading its tepid recovery from 2.5-week lows of 7,007, as we head towards the weekly closing. Top 3 widely traded coins to shed 4+% each on the week.

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast

BTC

ETH

XRP