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Technical Analysis

XRP Price Analysis: Retests of $0.30

Arthur Webb

Last updated

 

on

Ripple's XRP
  • XRP price is up by 1.4%
  • $0.30 resistance broken once more
  • The price continues an uptrend

1 Hour XRP/USD price chart

XRP price is up by 1.4% in the last 24 hours and still continues its uptrend within the current trading channel. However, the recent retest of the $0.30 resistance was a stop loss hunt, tapping into liquidity above resistance levels and trapping some stop-loss orders on short positions.

XRP price still continues its overall ascend and is very likely to again retest $0.30 price mark in the near future. Prior to that, the price may bounce off the support trend line around $0.29500 level.

Chart source: Tradingview

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Arthur Webb: passionate about how technology can empower people to create a more just and sustainable world.