- Ripple has gained 2.9 percent in today’s trading session.
- Daily charts show that the crypto is in a strong bullish move, marking a second consecutive day where the prices have risen.
- Daily chart analysis indicates that the prices may move past the $30 mark.
- The hourly chart also shows that intraday traders should look to go long, with prices anticipated to hit the $0.265 resistance level.
Ripple opened today’s trading session trading at $0.251, extending its bullish streak to two days. The crypto reached highs of $0.259 and press time, trading at $0.258, a 2.9 percent gain for the day.
Ripple daily chart price analysis
The daily chart price action analysis indicates that Ripple currently has the $0.2583 resistance levels after a second consecutive bullish day. A combination of the price action analysis and the Relative Strength Index indicator (RSI) shows that the prices are in a high momentum bullish move.
This means that traders should anticipate the crypto continuing its bullish move and will break out of the support and level structure to the upside. The next level after breaking from the structure will be along the upper trendline of a descending channel, which also indicates that the crypto has been in a bearish move for the long term.
For traders looking for trading opportunities on the daily charts, they should go long and observe the prices as they approach the upper trendline of the descending channel. The prices are expected to past $30.
Alternative perspective of Ripple prices on the daily chart
Crypto expert casper12, in his ripple daily chart analysis, indicates that the crypto prices are trading on the $0.26 resistance levels. In his analysis, the trader also shows that the prices are trading in an ascending channel.
The trader argues that if the prices break out of their current resistance level, which they have already touched, he expects the prices to continue with momentum to the upside. He expects the prices to retest the upper trendline of the ascending channel. His analysis is positive that the prices might break out of the ascending channel, which would mean prices moving towards the $30.
Ripple 1-hour chart analysis
Short tern trading opportunities analysis done by YMGroup indicates that the prices have just passed the resistance level at $0.260. In this analysis, the crypto experts highlight that the resistance level that has been broken is a long term resistance, which the crypto prices have not been able to break numerous times in the past.
The trading idea shows that traders should look for long opportunities on the hourly charts. The prices are anticipated to hit the $0.265 resistance levels, according to the analysis. Therefore, traders should be cautious when getting into this trade, and once the prices hit the anticipated resistance level, then traders should consider getting out of the trade.