- Ripple XRP finds support at the $0.25 mark.
- Ripple price unable to break above $0.255 amidst volatility.
- Analyst
The Ripple price line observed an upward curve on the 1-day chart for the 18th of September. The price line rose towards the $0.255 level, after which it returned to a rest near $0.25.
1-Day Ripple price analysis
The cryptocurrency was priced at $0.25 at the time of writing on Bitstamp. At 20:15 GMT, the XRP price was recorded at a day’s high of $0.255 US Dollars. While, the 24-hour low was observed at $0.246.
Will Ripple breakout and rise towards $0.3?
The Trading View analyst Husain Zabir believes that the XRPUSD trading pair is at a breakout level, and that it will soon rise towards the $0.3 mark.
The XRP price has been varying below the daily trend line shown in the chart above. The 21-Day Exponential Moving Average (21EMA) has recently crossed the 52-Day Exponential Moving Average (52EMA). This is a bullish sign for the trading pair and it means that the price line will see an uptrend on its charts. The cryptocurrency is currently testing the descending daily trend line.
XRP price broke above a triangle pattern on the 17th of September per the chart above. If the cryptocurrency successfully confirms the breakout above the daily trend line, the price line will turn bullish and it will gradually move towards the $0.27 resistance. A confirmed breakout above this resistance will eventually lead the cryptocurrency towards the $0.294 mark, which is the target price for this long-term trade. The analyst drew their analysis on a 4-hour chart.
Will Ripple rise above $0.265?
The Trading View analyst YM Group is of the opinion that the XRP price is currently testing the $0.255 mark and it will rise past $0.265 after a successful breakout.
Per the analyst, the XRPUSD pair possesses an adequate amount of bullish momentum for it to break past the $0.255 resistance which it has been testing for almost 2 days now. If the cryptocurrency confirms a breakout above this level, the price will see a bullish run past the $0.265 level. The target price for this trade was marked at $0.268.
What to expect from Ripple?
The Trading View analyst UNRPP is of the opinion that the XRP price will soon break past important resistance levels and rise to $0.45 on the charts.
The analyst highlighted the breakout observed above a large falling wedge pattern that was ongoing for almost 2 years now. The cryptocurrency broke above this pattern on the 30th of July, after which it tested the $0.31 resistance level. After tiring out, the cryptocurrency fell towards the rising trend line while it currently trades above it at $0.25.
The ascending trend line is expected to allow the cryptocurrency to gain enough momentum so that it may test the $0.31 resistance level again. The confirmation of a breakout above this resistance level will allow the cryptocurrency to rise towards the $0.45 level. The price line will then observe a pullback towards the $0.35 mark, which will act as a support. XRP will finally gain enough momentum to test the $0.45 resistance and break past it.
Disclaimer: The information provided is not a trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
