Tanya Abrosimova
Independent Analyst
- XRP/USD settled above the critical technical level
- The critical resistance is created by $0.2000.
Ripple's XRP settled at $0.1880. The third-largest digital asset has recovered after a sharp sell-off under $0.1800 on Thursday and hit the high at $0.1932. Despite the retreat below $0.1900 XRP/USD retains positive short-term bias as the price stays above the key technical level. Ripple's trading volume is registered at $8.3 billion, while an average daily trading volume settled at $2.4 billion.
XRP/US: Technical picture
XRP/USD has settled in the range after strong growth. However, the price stays above daily SMA50, which is a positive signal. On the intraday charts, the nearest resistance is created by 1-hour SMA200 (currently on approach to $0.1900). The next resistance comes at the recent high $0.1932, reinforced by the upper line of the 1-hour Bollinger Band. If it is cleared, the recovery may be extended towards $0.2000.
On the downside, strong support comes at $0.1860. It is created by a combination of (1-hour SMA100, closely followed by 1-hour SMA50) at $0.1860. This area is likely to slow down the bears and create a pre-condition for another bullish leg. However, if it is broken, a psychological $0.1800 will come into view. It is followed by the recent low $0.1741.
XRP/USD 1-hour chart
-637227336100926638.png)
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.