CryptoSignals News

Join Our Telegram

Ripple Holds above $0.30 as Bulls Target the High of $0.38

June 23, 2022

#Price Analysis#RIPPLE#XRP#XRP/USD

 

Ripple (XRP) Long-Term Analysis: Bearish
Ripple’s (XRP) price has declined to $0.30 support as bulls target the high of $0.38. For the past week, XRP has been trading above the current support. The bulls have been making short rallies to the previous highs. In the meantime, XRP is fluctuating between $0.30 and $0.34 price levels. On the downside, the bulls have stalled further downward movement of price. They have defended the $0.30 support as the coin makes upward rallies. On June 15 and 17, buyers pushed XRP to the high of $0.34 but were repelled. On the upside, XRP will rally to $0.38 if the bulls clear the resistance at $0.33 and $0.35.

Ripple (XRP) Indicator Analysis
Ripple has risen to level 38 of the Relative Strength Index for period 14. XRP is rising as buyers emerge in the oversold region of the market XRP’s price bars are below the moving averages indicating the downtrend. It is above the 25% range of the daily stochastic. Buyers are emerging from the oversold region of the market.

  Ripple Holds above $0.30 as Bulls Target the High of $0.38
XRP/USD – Daily Chart

Technical indicators:
Major Resistance Levels – $2.00, $2.50, $3.00
Major Support Levels – $1.50, $1.00, $0.50

What Is the Next Direction for Ripple (XRP)?
Ripple has been consolidating above the $0.30 support as bulls target the high of $0.38. The altcoin risks further decline if the $0.30 support is breached. Meanwhile, on May 12 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement suggests that XRP will fall to level 1.272 Fibonacci extension or $0.25.

  Ripple Holds above $0.30 as Bulls Target the High of $0.38
XRP/USD – Daily Chart


You can purchase crypto coins here. Buy LBlock


Note: Cryptosignals.org 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

Join Our Free Telegram Group

We send 3 VIP signals a week in our free Telegram group, each signal comes with a full
technical analysis on why we are taking the trade and how to place it through your broker.

Get a taste of what the VIP group is like by joining now for FREE!

Join Our Telegram