Ripple XRP/USD Price Prediction and Technical Analysis, will it break $0.40 strong support zone?
- Ripple (XRP) is trading at around $0.40 while Bitcoin (BTC) has shown a bullish move in the last few days.
- Daily Relative Strength Index (14) is in the neutral zone while MACD Level (12, 26) is in the oversold zone.
- XRP/USD is having strong support at $0.40 in the short-term.
Ripple (XRP/USD) the 3rd largest cryptocurrency by market capitalization is trading at $0.403576 breaking the strong support zone of $0.39 USD. Many traders would like to see its price above $0.50 at the end of this month. XRP/USD is up by around 1.18% from the last 24 hour with a market capitalization of $17,152,763,204 as per CoinMarketCap.
Recently Bitcoin once again gained the momentum and reached the level of $8630 (at press time), there are chances that it would soon hit $9000 USD.
Ripple XRP/USD Price Chart
While Ripple XRP/USD is trading around $0.40 breaking the last support zone of $0.39 USD. However, if we look at the daily technical indicators like moving averages, it suggests buying. Daily oscillators are also indicating buying signal in the long-term. The Volume Weighted Moving Average (20) is in the oversold zone.
If we look at the hourly moving averages then we find that almost all the indicators are in the strong bullish zone in the short-term. While Oscillators are in the oversold zone indicating sell pressure zone. The hourly MACD Level (12, 26) is 0.00135 and is indicating a sell pressure zone.
XRP/USD Key Levels
Ripple XRP/USD has strong support at around $0.40 if the bulls managed to break this price zone then it might go above $0.41 in short-term. $0.4086 is the resistance (R1) while $0.4134 and $0.4219 is the resistance R2 and R3 respectively.
The support zone S1, S2 and S3 in case of Ripple (XRP) are $0.3952, $0.3867 and $0.3818 respectively.
This article should not be considered as investment advice. Please conduct your own research before investing in any cryptocurrency.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.