Ripple experienced a small price increase of 1% over the past 24 hours, bringing the price up to around $0.3134. The market has recently rebounded from a rising trend line after briefly dropping below $0.31.

Where Is XRP Currently Ranked?

Ripple is currently in 3rd position as it holds a $12.75 billion market cap value.

Let us take a look at XRP/USD and highlight some potential areas of support and resistance.

XRP Price Analysis

XRP/USD

XRP/USD – 1 DAY – MEDIUM TERM

XRP Analysis
https://www.tradingview.com/x/EhfIMdQO/

What Has Happened Since Our Last Ripple Analysis?

Since our last Ripple analysis, we can see that XRP/USD had continued to fall beneath the support at the .786 Fibonacci Retracement level (drawn in green) priced at $0.3185. The market continued to fall further lower into support at the rising trend line.

We can see that XRP/USD has bounced from the trend line and has started to rise once again.

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. The trend is bearish beneath $0.30.

Where Can We Go From Here?

If the rebound can continue higher, more resistance above lies at the .786 Fibonacci Retracement level (drawn in green) at $0.3185. Further higher resistance above $0.32 lies at $0.3257 and $0.3329.

If the buyers can continue to push the market above $0.34 we can expect more resistance to be located at the .618 Fibonacci Retracement level (drawn in green) priced at $0.3449. This is followed with more resistance at the short term 1.414 Fibonacci Extension level (drawn in orange) priced at $0.3524 followed by the upper boundary of the price channel.

What If The Bears Push The Market Lower?

Alternatively, if the sellers regroup and push price action lower, immediate support is located at the rising trend line. Support beneath the trend line lies at the .886 Fibonacci Retracement level (drawn in green) at $0.3028.

If the sellers break beneath $0.30 we can then expect more support to be located at the $0.2926 and $0.2858 levels.

XRP/BTC

XRP/BTC – 4 HR CHART – MEDIUM TERM

XRP Analysis
https://www.tradingview.com/x/z2Ir6axc/

What Has Been Going On?

Since our last analysis, XRP/BTC has continued to trade in a sideways manner not being able to break higher or lower. The market has recently found support at the .5 Fibonacci Retracement level (drawn in green) priced at 8076 SATS.

What Is The Current Trend?

The current trading trend for XRP/BTC remains neutral. 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 bulls can continue to travel further higher we can expect immediate resistance above to be located at the 1.414 Fibonacci Extension level (drawn in pink) priced at 8276 SATS. Higher resistance above this can be located at the 8543 SATS and 8697 SATS levels.

More resistance above can 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 step back in and push the market lower we can expect immediate support to be located at the .5 Fibonacci Retracement level (drawn in green) priced at 8076 SATS.

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

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