XRP/USD Price May Increase Further to Test $0.36 Level

XRP/USD Price May Increase Further to Test $0.36 Level

XRP Weekly Price Analysis – August 03

In case the bulls continue to dominate the XRP/USD market, the price may soar to the resistance at $0.33, $0.36, and $0.39 levels. On the downside, traders should expect the next support levels at $0.29, $0.24, and $0.20.

XRP/USD Market
Key Levels:

Resistance levels: $0.33, $0.36, $0.39

Support levels: $0.29, $0.24, $0.20

XRP/USD Long-term Trend: Bullish

XRP/USD is under the bulls’ pressure as the coin rallies to near the resistance level of $0.33. On August 02, it inclines to test the just mentioned level but the level holds the price and it pulled back to retest the $0.29 price level. Observation made on the daily chart; the XRP price is now trying to form a daily Doji candle at $0.29 level. $0.33 price level is likely to revisit in the next few positive moves in case the market continues the up-surge.

XRPUSD Daily chart, August 03

The technical indicator RSI (14) moves above 75-level indicates that the market may continue to follow the upward trend. Taking a look at the daily chart, we can see the bulls’ momentum increasing. In case the bulls continue to dominate the XRP/USD market, the price may soar to the resistance at $0.33, $0.36, and $0.39 levels. On the downside, price may find support levels at $0.29, $0.24, and $0.20.

 

XRP/USD Medium-term Trend: bullish

XRP is bullish on the medium-term outlook. The coin performance is becoming higher due to a recurring bullish sentiment which has caused the market to increase greatly. In other words, the price has been inclining for the last few days. The market is currently following the uptrend and the opportunity to place buy trade setup may be available.

XRPUSD 4-hour chart, August 03

Traders may place Buy order at $0.30230, Take profit at $0.39475, Stop loss at $0.24057. This signal becomes invalid if it does not trigger within 8 hours.

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 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
Share with other traders!