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Technical analysis

XRPUSD Analysis: Ripple Price Might Test $0.34 Levels

Amandeep Sonewane | Feb. 18, 2019
XRPUSD Analysis: Ripple Price Might Test $0.34 Levels

February 18, 2019 AtoZ Markets  -  Ripple price has experienced a bullish momentum which has cleared out all the major hurdles to move towards the next level. At the time of press, the coin is trading at $0.3149 level with a market cap of $31.90 Billion.

Since last week, the price of the coin has moved by $ 0.01170 (3.82%) with a total volume of over $ 83.63 Million. The highest price, $ 0.3209, was on 18 February 2019 at 16:00 GMT while the lowest price, $ 0.2975, was on 12 February 2019 at 02:00 GMT.

Ripple Price Prediction for Short Term

After a couple of bearish moves since the last week, Ripple price shaped strong support around $0.2945 level against the USD. The price of the coin began a nice upside move and traded over the $0.31 weekly resistance level. It opened the pathways for more increases over the $0.31 resistance.

Moreover, there was a break over two bearish pattern lines which were formed with resistance around $0.31 on the hourly chart of the XRPUSD pair. The pair traded near the $0.3194 and $0.3209 resistance levels, where selling pressure increased. The primary support is close to the $0.3039 level, which was a critical resistance before.

The 100 hourly SMA is additionally close to the $0.31 level to go about as strong support in the near term. To the upside, an underlying resistance is around $0.3255 level. The major weekly resistance is near the $0.3358 level, above which buying pressure is probably going to increase.

To sum it up, Ripple price is by all accounts set pleasantly over the $0.2945 weekly support. In any case, an appropriate break above $0.3255 resistance levels is required for more gains. For the time being, there could be a couple of bearish moves, however, the price of the coin is probably going to pick up pace above $0.3255 zone and might target towards $0.34 handle in the upcoming days.

Ripple Weekly Pivot Points

Ripple has weekly support near $0.2945 and resistance near $0.3255 levels.

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.