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Technical Analysis

XRP price technical analysis. An uptrend started.

Arthur Webb

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Ripple's XRP

  • XRP/USD price gains 14% in 24 hours
  • The crucial resistance level at $0.26500 was finally broken
  • Long term outlook remains bullish

4 Hour XRP/USD price chart

After finally breaking through $0.26500 mark XRP price, as expected, initiated a stong uptrend gaining over 14% against US dollar in 24 hours. Currently, the price is consolidating at the level of $0.30500. According to technical indicators such as MACD and Money Flow Index XRP is still not overbought at the moment so we can expect an uptrend to continue. For that, the price would need to go up to the level of $0.32500 and consolidate between that resistance and support of $0.3000. In case new resistance will be broken on good volume and high momentum without immediate retracement XRP price can claim as high as $0.40 and set new resistance at this level.

READ  Ripple CEO Brad Garlinghouse Believes Facebook’s Libra launch is a ‘Record Week for Ripple’

Chart source: Tradingview

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