29.03.2024

XRP Managed to Gain Momentum to the $0.30 Level But the Bears Take Over Again

The XRP token has Formed support at the $0.2950, $0.2920, and $0.2900 and resistance at the $0.3020, $0.3040, and $0.3080 levels. As the price of XRP moved lower, it broke the 23.6% Fib retracement level of the recent surge from $0.2869 to $0.3043 which is below the $0.3020 level.

Falling below the support at $0.2980 made things worse for XRP but analysts believe that the token will move higher against the USD despite the current price action. There is a bullish trendline connecting the support near the $0.2975 level.

In our last XRP price prediction yesterday, we noted that the XRP token would continue to drop in price if it lost the support at $0.2950. The 50% Fib retracement level of the $0.2869 to the $0.3043 level.

Despite the current price, the XRP token will gain momentum above the $0.320 level. This will allow it to gain pace to the $0.3040 level. The bullish momentum will intensify if the token can move as high as the $0.3120 resistance level.

It’s not clear when the XRP token will rise or if it will continue to decline but its progress will depend a lot on the Bitcoin BTC token. If Bitcoin BTC starts rising, XRP will most like rise along with it. Right now, the price of Bitcoin BTC is $11,407.58. It is down by 4.93% against the USD with a trading volume of $28,422,499,428 and a market capitalization of $210,788,747,735.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

  • Ripple XRP Price Managed to Move Above the $0.3000 Level but it Quickly Corrects Lower Against the USD
  • Analysts Have Predicted That the Token Will be Bullish if it Moves Above the $0.3100 Level 

Yesterday, Ripple XRP started rising against the USD until it moved above the resistance at $0.2920. The token managed to move as high as $0.3000 where it faced resistance and fell lower against the USD. After that, strong resistance formed at the $0.2920 level stopping the token from retesting the $0.3000 level. Right now, the positive zone is at the $0.2920 and $0.2950 level. The good news is that XRP reached a weekly high at the $0.3043 level which is also above the 100 days SMA.

Ripple News Today – XRP’s Recent Price Surge Was Fueled by Bitcoin and Ethereum

The recent rise in the price is XRP was all thanks to the rise in the price of Bitcoin BTC and Ethereum ETH that took the entire cryptocurrency market along. At the time of writing, the price of the Ripple XRP token was $0.270739. It is down by 7.61% against the USD and down by 2.11% against Bitcoin BTC.

The trading volume over a 24 hour period was $2,051,898,393 and the market capitalization was $12,181,868,458. The MACD and relative strength index are moving slowly to the bullish territory.

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