Ripple Price Signaling More Upsides
[NEWS BLOG]: Ripple Price Signaling More Upsides
Recently, there was a steady increase in bitcoin and Ethereum, which helped ripple in recovering above the $0.2250 resistance. XRP price followed a decent bullish past and surpassed the $0.2300 resistance.
Moreover, there was a close above the $0.2320 resistance and the 100 hourly simple moving average. A new weekly high is formed near $0.2359 and the price is currently correcting lower.
It traded below the 23.6% Fib retracement level of the recent wave from the $0.2259 low to $0.2359 high. An immediate support is near the $0.2310 level.
Besides, there is a major bullish trend line forming with support near $0.2305 on the hourly chart of the XRP/USD pair. The trend line support is also close to the 50% Fib retracement level of the recent wave from the $0.2259 low to $0.2359 high.
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Ripple (XRP) Is Primed To Correct Higher Despite Recent Sell-off
Ripple remained in a major downtrend from well above the $0.2650 level against the US Dollar. XRP price tested the $0.2240 support area and it could correct higher in the short term.
- Ripple price is down close to 6% and it broke the $0.2350 support area against the US dollar.
- The price tested the $0.2240 support area and it is currently consolidating losses.
- There is a contracting triangle forming with resistance near $0.2300 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The price must climb above the $0.2300 level to start a recovery towards the - read more.
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