The immediate resistance for XRP is now at $0.3050 which is also near the 61.8% fib retracement level of the last decline from $0.3200 to $0.2789.
If the XRP token successfully breaks the $0.3050 resistance, it will move as high as $0.3120 and even $0.3150. The main resistance is at the $0.3200 level. If the bulls can move above this level successfully, the token will have the momentum to move as high as $0.3600. A decline below the $0.2800 level will lead the price of the token down to the $0.2650 level.
In the next few trading sessions, we will find out if the token will move higher or lose the support at the $0.2800 level. A significant portion of the XRP token will depend on the price action of Bitcoin BTC and the rest of the cryptocurrency market.
At the time of writing, the price of Bitcoin BTC was $11,735.47. It is up by 1.44% against with a 24 hour trading volume of $24,036,071,715 and a market capitalization of $216,607,312,153.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- XRP Faces Resistance at $0.3200 But Crossing this Level will Lead to Higher Highs Against the USD
- Support at $0.2800 will Prevent Lower Lows Against the USD
Ripple XRP has been relatively stable since it moved below the $0.2900 level a few days ago. Losing the support at $0.3000 was bad but it wasn’t the end of the near-term bull rally. Now, the token has formed key support at the $0.2800 level against the USD. The token has started showing positive signs and may rise above the $0.3200 level paving the way for higher highs against the USD near-term. The technical indicators support this notion.
Ripple XRP Price Prediction – XRP is Ranging Between $0.2800 to $0.3200
Ripple XRP has been gaining momentum since the beginning of the day following the substantial price correction against the USD. Thankfully, the support at the $0.2800 level. When XRP fell to this level, it gained momentum and moved above the resistance levels at $0.2850 and $0.2920 resistance levels. There was a close above this second resistance and the price retraced again. The XRP token is now trading above the 50% Fib retracement level of the last move from $0.3200 to $0.2789.
At the time of writing, the price of the token was $0.297110. It is down by 0.12% against the USD and up by 1.87% against Bitcoin BTC. The trading volume over a 24 hour period is $4,474,808,876 and the market capitalization is $13,329,160,758. The MACD is gathering bullish momentum and the relative strength index has moved above the 50 level. Earlier today, the token retested the $0.3000 level but the resistance pushed it lower.