Connect with us


Ripple Price Prediction: XRP/USD Spikes to $0.79 Resistance




Ripple Price Prediction – July 30

The Ripple price renews the bullish trend after testing the support level of $0.69 since the European session.

XRP/USD Market

Key Levels:

Resistance levels: $0.95, $1.00, $1.05

Support levels: $0.55, $0.50, $0.45

Ripple Price Prediction
XRPUSD – Daily Chart

XRP/USD is seen following an upward trend after plunging under $0.70 to test support at $0.69 a few hours ago. The sixth-largest cryptocurrency by market capitalization has on several occasions since the month of July, been purged from the upper boundary of the channel. However, the monthly high traded at $0.79 marked the end of the bullish action towards $1.00 and paved the way for losses under $0.70.

Ripple Price Prediction: Ripple Price May Continue to Keep the Uptrend

The Ripple price has commenced an intriguing recovery towards a $1.00 resistance level. The initial break above the upper boundary of the channel could boost the price up. However, the Ripple (XRP) may need to hit high above the $0.85 level before retreating back below the 9-day and 21-day moving averages. Meanwhile, from above, more hurdles may come into play above the upper boundary of the channel and of course, the nearest resistance level can be located at $0.90.

However, the trend remains in the hands of the bulls supported by the technical indicator where the Relative Strength Index (14) is trading above 65-level, building on the consistent recovery from the downside. More so, Ripple’s bullish scenario is emphasized by the RSI (14) indicator as it extends the action towards the north.

Meanwhile, a break above $0.95 and $1.020 resistance levels may most likely push the coin above the potential $1.05 resistance level while a break below the 9-day and 21-day moving averages could lead to the supports of $0.55, $0.50, and $0.45 respectively.

When compares with Bitcoin, the Ripple price is consolidating to the downside and trading towards the 9-day and 21-day moving averages. Meanwhile, the bulls may need to pushing the price above the upper boundary of the channel; breaking above the channel could take the price to the resistance level of 2200 SAT and above.

XRPBTC – Daily Chart

However, if the XRP/BTC decides to follow the downtrend, crossing below the 9-day and 21-day MAs could push it to the critical support level of 1400 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) is moving below 50-level, suggesting bearish signals.

Looking to buy or trade Ripple (XRP) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider

Source link

Continue Reading
Click to comment


This site uses Akismet to reduce spam. Learn how your comment data is processed.