Cryptocurrency, News, Price Analysis, Ripple (XRP)

Ripple (XRP) Price Forecast: Technical Indicators Suggest Upswings Past $0.37

The week starts on a bullish leg, with Exponential Moving Averages suggesting upside actions beyond $0.37 to open the path towards $0.40 later this week.

  • Sunday’s 2.11% XRP slide means a brief reversal of Saturday’s 4.97% surge, leaving the alt 5.54% up for the week.
  • Cryptocurrency news wires remained silent, leaving the remittance token in broader market hands which cooled the 4-day upside streak.
  • Nevertheless, technical indicators flash bullishness as XRP sits beyond the 200-day Exponential Moving Average.

XRP lost 2.11% on Sunday, partially erasing the 4.97% Saturday rally. Meanwhile, the remittance token closed the week 5.54% up, at $0.3431. Yesterday’s bullishness saw Ripple climbing towards $0.3611 before reversing. The initial massive resistance near $0.3605 had XRP sliding towards the $0.3412 low.

Nevertheless, keeping the first crucial support zone of $0.3359 away saw XRP securing modest support at $0.3431 as the week ended. There weren’t SEC vs. Ripple case updates or crypto news influencing the alt’s price action.

XRP Price Analysis

While publishing this blog, XRP changed hands near $0.3587, surging 4.55%. Optimism early on the day saw the altcoin rising from the $0.3429 early low towards the $0.3539 peak. The upside had XRP conquering the initial crucial resistance zone at $0.3557.

Technical Indicators

Holding beyond the first resistance and pivot at $0.3485 would back upswings beyond the $0.3611 Sunday high before challenging the second sturdy resistance at $0.3684. The cross-border transaction coin will likely recapture the $0.36 mark in the coming hours. Moreover, extended rallies would see the alt testing the $0.3750 resistance. The 3rd crucial resistance stands at $0.3883.

Meanwhile, weakness around the mentioned resistance and the pivot level would see XRP dropping towards the first crucial support barrier at $0.3358. Excluding continued plummets, Ripple should avoid $0.33 and second massive support at $0.3286. Nevertheless, the 3rd foothold stands at $0.3087.

The 4hr candle chart and Exponential Moving Average revealed bullish signals early today. The altcoin stayed beyond the 200-day Exponential Moving Average ($0.3443) during this publication.

Also, the 50-dEMA drifted from the 100-dEMA while narrowing to the 200-dayEMA, unveiling positive price indicators. Extended narrowing by the 50EMA into 200EMA would trigger upswings towards $0.37. Nevertheless, weakness would mean declines to sub-$0.34.

Leave a Reply

Your email address will not be published. Required fields are marked *