Ripple Technical Analysis: XRP/USD jumps above $0.32 after another strong breakout
|- XRP/USD is currently trading at $0.30 after a brief pullback.
- XRP’s bullish momentum is considered to be robust.
XRP has finally seen a significant and convincing spike above $0.30 and managed to touch $0.325 before a pullback. Unfortunately, bulls haven’t been able to set support levels on the way up, something that will be extremely important when XRP starts consolidating.
XRP/USD daily chart
-637320540765201861.png){kind=link}
Of course, XRP is in a clear uptrend way above any daily EMA and still trading at $0.302. Buyers need to set a support level around this area in order to get another healthy leg up. The most important resistance level is now $0.346, the 2020-high established in February. As for support, XRP can only rely on psychological levels like $0.30 and the daily 12-EMA at $0.253 and the 26-EMA at $0.2294.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.