Ripple (XRP) Bounces at $0.24 Support, Uptrend Is Likely

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.

Key Resistance Levels: $0.30, $0.40, $0.45
Key Support Levels: $0.25, $0.20, $0.15

XRP/USD Long-term Trend: Bullish
Ripple’s current upward move was a bounce from the low of $0.21 since January 25. The coin reaches a high of $0.24 and pullback to the low of $0.23. At the resistance of $0.24, the bulls made three other attempts before it was breached. The price went up to a high of $0.26 but was resisted. The bulls could not sustain the move above $0.26 because of buying power at higher levels.

Ripple fell to the low of $0.24500 and continued fluctuation below the current resistance in the last 24 hours. Undoubtedly, the upward move may likely continue. On the upside, if the price breaks the resistance at $0.26, the bulls will push XRP above the high of $0.30. There may be no bottlenecks after the coin moves to a high of $0.30. However, if the price decides to break the low at $0.24500, the market may fall to a low of $0.23.

XRP/USD - Daily Chart

Daily Chart Indicators Reading:
Ripple is now trading at level 62 of the Relative Strength Index (RSI) period 14. Simply, it means XRP is in the uptrend zone. That is the coin is likely to rise. Presently, if XRP retraces and reaches the low of $0.24500, there is a likelihood of another bounce from the low.

XRP/USD Medium-term Prediction: Bullish
On the 4-hour chart, Ripple is in an uptrend. A trend line is drawn showing the support levels of price where traders can initiate long trades. The bears have tested the trend line on two occasions without breaking it. The price bounced and the upward move was spectacular.

XRP/USD - 4 Hour Chart

 

4-hour Chart Indicators Reading
Ripple is trading above 50% range of the daily stochastic. The stochastic bands are ranging above the 50% range. Ripple is presumed to be in a bullish momentum but the coin seems to be in a sideways move. The 50-day and 21-day EMAs are trending northward indicating the uptrend.

General Outlook for Ripple (XRP)
Ripple is gradually moving upward. The coin is set and likely to be out of the downtrend zone. The bulls are attempting to break the resistance at $0.26. If successful, the bulls will push the coin above $0.30. The $0.30 resistance has not been broken since July 2019. A break above $0.30 resistance level can be powerful.

Ripple (XRP) Trade Signal
Instrument: XRPUSD
Order: Buy
Entry price: $0.26
Stop: $0.24
Target: $0.31

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *