- Ripple has started bouncing back after last week’s violent price fluctuations
- The price recovery may push the price to the next resistance at $0.3082
- XRP has to breach $0.30 mark for a price rally to $0.35 again
Although massive and continuous price falls in the last three days, Ripple coin has managed an overall hike of 7.05%. It currently trades at $0.2928, and the recovery process for XRP seems to have already started.
Ripple Price Analysis
Ripple crypto started the week at $0.2735 on February 11, and in the next four days, XRP coin encountered an upsurge to the extent of 25.85% that added $0.0707 to the value and pushed XRP price to $0.3442. Then, it faced a sharp decline to the tune of 21.56% that pulled down the Ripple price to $0.2700 by February 17. Over the 24 hours, there has been a marginal improvement. XRP’s value against USD has been ballooned up by 6.85% and reached $0.2885.
As per the technicals, Ripple’s current price ($0.2928) is already trending above its 50 days MA ($0.2854) and 90 days MA ($0.2846) by almost 2.6% each. Its MACD line is placed well above the signal line. All these figures hint at one thing that XRP coin has started a strong recovery. It may soon reach the next resistance point at $0.3082. If Ripple cryptocurrency can cross $0.30 mark, the currency may breach its major resistance area above $0.32. However, intraday investors may not be shielded completely from a few price shocks.
Resistance and Support Levels
R1: $0.297, R2: $0.308 and R3: $0.321
S1: $0.273, S2: $0.260 and S3: $0.249