Ripple price is gearing up for a major bullish breakout above the strong resistance at US$0.3030 and US$0.3035. Buyers are expected to take hold of the XRP market once the price successfully moves over US$0.3050. The bullish momentum after that is expected to take the price towards US$0.3400.
Ripple Price Today
At press time, Ripple price in USD is hovering around US$0.31001. Therefore, it has successfully moved above the US$0.2900 level and forming a solid support. If the XRP-USD pair can hold the concerned support level, a bullish break is expected in the near term.
Ripple Price Prediction
Today, the Ripple XRP price opened at US$0.30400, which is above the previous close at US$0.30391. The market first reached a high at US$0.31042 but failed to hold on to that level. It fell down to US$0.30195. However, it’s currently trying to break above the crucial psychological resistance at US$0.31000.
A crucial bearish trend line with US$0.3000 as support has been successfully broken. The near-term Ripple price prediction is US$0.3150. Some technical analysts believe that the price will remain range bound within the US$0.3000-US$0.3050 level. More gains are expected once the Ripple price goes over $0.3050. In that case, the rally can take XRP/USD up to US$0.3150 in the short term.
Ripple Price Technical Analysis
The XRP/USD chart shows that the Ripple (XRP) declined below the US$0.3000 level. It was below the 2-hours 100 SMA level and traded as low as US$0.2865. Ripple price has overcome a bearish trend line having US$0.3000 as the resistance.
- A solid upward movement of the XRP/USD price is expected:
- Above the 23.6% Fibonacci retracement level of the recent decrease from the high at US$0.3588 to low at US$0.2865.
- Above $0.3035
- The next crucial resistance is seen near the 100 SMA (2-hours) as well as the US$0.3150 level.
- Above the US$0.3150 level, the Ripple price may face considerable resistance near:
- 50% Fibonacci retracement level of the recent decrease from the high at US$0.3588 to low at US$0.2865.
- $0.3220 level.
A major pivot area for Ripple price is US$0.3400. It is the final target for buyers. However, a break below the supports at US$0.2900 and US$0.2865 can make the XRP-USD pair to slide further down to US$0.2500. Currently, the Ripple XRP price is well above the US$0.2900 level and is likely to witness a bullish movement in the near term.
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