Ripple has shocked the market with a tremendous hike to the extent of 11.13%, and the value has been placed at $0.3143. The gaining spree of XRP is likely to be sustained for the medium-term.
Ripple Price Analysis
XRP/USD price reflects a sharp upward move yesterday after consolidating around $0.28 for almost the last 5 days. XRP opened the day at $0.2828, and over the initial 13 hours, the price was up by 7.14% and reached $0.3030. It was followed by a moderate price correction that deducted 2.64% from the value and pulled the XRP price down to $0.2950 by 15:31 UTC. However, Ripple couldn’t be confined at that value for long, and it started climbing up the hill soon. By 01:41 UTC, it got ballooned up by 6.47% and breached its key resistance of $0.30 by reaching $0.3141.
XRP’s both 50 days MA and 20 days MA is lagging behind its current price. The gap is likely to enlarge in the upcoming days. Ripple coin is supposed to breach the next resistance point at $0.3248 by this weekend as most of the analysts predict that the coin may soon record a price rally to higher range from the current trading price of $0.31. However, traders may witness a few sudden price changes in the short-term.
| Ripple (XRP) | Resistance and Support Levels |
| 1st Resistance | $0.3146 |
| 2nd Resistance | $0.3248 |
| 3rd Resistance | $0.3421 |
| 1st Support | $0.2870 |
| 2nd Support | $0.2697 |
| 3rd Support | $0.2595 |
