Even though Ripple XRP price has now impressive technical across the higher and lower time frames, the cryptocurrency is still struggling to create a significant breakout over $0.3000 level.
Presently, the XRP/USD pair has created support towards the pullback at about $0.2800 level and it seems that it is right now safe. However, the short-term sellers would gain traction if they are able to overcome the support level at $0.2800.
As per the recent sentiment data from TheTIE.io: Ripple’s short-term sentiment is neutral at about 44 percent, whilst the long-term sentiment towards Ripple seems bearish at about 36 percent.
Ripple XRP price: Upside Potential
The short term Ripple XRP price chart indicates the formation of a head and shoulder pattern along with a $0.3450 level being the neckline of this bullish pattern.
The major technical resistance prior to the $0.3450 level is presently found at $0.3000 and at the $3250 level. The mid-term resistance for the pair is located at $0.4000 and $0.4500 levels.
Ripple XRP price: Downside Potential
The short-term chart indicates that $0.2800 level is creating a resilient short-term technical support under the key $0.3000 level.
The daily tie frame chart is indicating that a break under $0.2500 level will be exceedingly bearish for this pair, and it could possibly prompt a drop towards $0.2350 and possible at the $0.2000 levels.
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