- XRP/USD market has managed to spring northward to hit a high resistance point at $0.34 mark.
- As at the time of writing, the US dollar cannot ensure a quick come-back in this trade.
- The market lines between $0.34 and $0.30 are prone to witnessing variant formations of trading activities for some hours or a few days.
Major resistance levels: $0.36, $0.38, $0.40
Major support levels: $0.28, $0.26, $0.24
Ripple (XRP) Price Analysis
XRP/USD price valuation has eventually strived to surge upwards to touch a high resistance market line at a $0.34 mark today. A vital resistance point at $0.30 has been pushed-off over northwardly to now serve as the first main point that any downward price movement will have a breakthrough before probably thinking of the crypto’s possibility of losing momentum in the present upward swings.
The USD hasn’t had a strong stance to presently suggest its gaining of grand against the base cryptocurrency.
Ripple Technical Indicators Reading
The 14-day trading indicator still points to the north direction below the current market position. There is a space between the 14-day SMA and the 50-day SMA while the latter is located a bit over the current major support level at $0.28 price line. That adds more to the validation of setting the first support line at that price point.
The Stochastic Oscillators still consolidate around the overbought region and range 80. But, the bulls are being in favor of the hovering moves.
The XRP/USD market bulls are still to some extent being in the control of this crypto market until now. However, another strong resistance line has just been hit at a $0.34 mark. And, that price line and $0.30 point are potentially prone to witnessing variant formations of trading activities for a number of hours or a few days.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.
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