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Ripple (XRP) Price Analysis - Ripple Has Risen Above $0.31. Will it Hold This Level?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Unfortunately, Ripple has not followed the growth of Bitcoin and Ethereum, as its rate has increased by only 1% over the last day. Furthermore, the trading volume index has lost around $300 mln, meaning that traders prefer other coins to XRP. 

Ripple chart
Ripple charts by CoinMarketCap

In terms of the technical analysis, the picture is looking the following way.

XRP/USD 1-hour chart
XRP/USD chart by TradingView

Ripple managed to pass the resistance around the levels of $0.3050 and $0.3080, and the next barrier is located near $0.3220. This resistance match to a 50% Fibonacci retracement line. If it fails to achieve it, one may expect an upcoming price decline.

XRP/USD 4-hour chart
XRP/USD chart by TradingView

On the 4H chart, Ripple has touched the bottom and unlikely to drop below $0.29. The bullish MACD indicator confirms such a statement. Thus, RSI is on the verge of the oversold area, suggesting that sellers have run out of steam. In this regard, the quotes might reach the nearest resistance at $0.35 in a few days.

👉 MUST READ Ripple (XRP) Price In Bear/Bull Transition: Is $0.5 Possible Target For Summer?

At the time of writing XRP price is trading at the level near $0.3124.

Cover image via www.123rf.com

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at [email protected]

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