XRP Price Analysis

The XRP price has had an interesting couple of days following the addition of the cryptocurrency into the Coinbase platform. Price action has seen a 1.81% increase over the past 24 hours bringing the current trading price up to around $0.3273 at the time of writing.



Ripple is currently up around 9.75% over the past 30 trading days.

Where Is XRP Currently Ranked?

Ripple remains ranked in 3rd position as it currently holds a $13.23 billion market cap ranking.

XRP/USD

XRP/USD – 1 DAY – MEDIUM TERM

https://www.tradingview.com/x/gJxH5qNx/

What Has Happened Since Our Last XRP Price Analysis?

Since our previous Ripple analysis, we can see that the market has fallen slightly into the support at the .786 FIbonacci Retracement level (drawn in green) priced at $0.3185. During the week, price action had spiked down momentarily but had found support at the rising trend line.

The market has now risen higher as price action now attempts to break above the $0.33 level.

What Is The Current Trend?

The current trend within the market is presently neutral. If price action was to break above the $0.35 level we can consider this market bullish. For this market to be considered bearish, we would need to see price action fall and break beneath the $0.30 support level.

Where Can We Go From Here?

If the buyers can conjure up the momentum to break above the $0.30 level, we can expect immediate higher resistance to be located at the $0.3329 level followed with more resistance at the .618 Fibonacci Retracement level (drawn in green) priced at $0.3449.



If XRP/USD breaks above $0.35 we can then expect higher resistance to be located at the short term 1.414 and 1.618 Fibonacci Extension level (drawn in orange) priced at $0.3524 and $0.3612.

What If The Bears Push The Market Lower?

Alternatively, if the sellers manage to push price action below the support at the .786 FIbonacci Retracement level (drawn in green) priced at $0.3185 we can expect further support below to be located at the rising support trend line.



More support beneath the rising trend line can then be expected at the short term .886 Fibonacci Retracement level (drawn in green) priced at $0.3028 followed with more support at the $0.30 and $0.2926 levels.

XRP/BTC

XRP/BTC – 4 HR CHART – MEDIUM TERM

https://www.tradingview.com/x/rImpgBxs/

What Has Been Going On?

Since our past XRP/BTC analysis, price action has fallen slightly to rebound at the support at the .5 Fibonacci Retracement level (Drawn in green) priced at 8076 SATS. The market has bounced from this support and is now trading at 8328 SATS.

What Is The Current Trend?

The current trading trend for XRP/BTC remains bearish. For this market to be considered bullish, we would need to see price action make a higher high above the 8800 SATS handle. If XRP/BTC was to break beneath 8000 SATS we could consider the trend to be bearish.



Where Can We Go From Here?

If the buyers can hold the current support at the 8276 SATS and climb higher, we can expect immedaite resistance to be located at teh .382 Fibonacci Retracement level (drawn in green) priced at 8543 SATS. Further resistance above this can be located at the 8697 SATS level.



If the bullish momentum continues to drive XRP/BTC higher, we can then expect further resistance to be located at the bearish .382 Fibonacci Retracement level (Drawn in red) priced at 8988 SATS.

What If The Bears Push The Market Lower?

Alternatively, if the sellers push price action below the support at 8276 SATS we can expect immediate support beneath at the .5 Fibonacci Retracement level (drawn in green) priced at 8076 SATS.



IF the sellers break beneath 8000 SATS, we can then expect more support to be located at the downside 1.618 Fibonacci Extension level (drawn in pink) priced at 7922 SATS.

