Ripple Price Prediction: XRP takes a breather as buyers hold $0.41

Ripple price has defended a key support level at $0.41.
The TD Sequential indicator has presented a significant buy signal.
XRP doesn't face a lot of resistance to the upside but needs more bullish momentum.

XRP had a major sell-off like the rest of the market, but bulls have managed to hold and defend a major support level at $0.41. Ripple price aims for a significant rebound as a key indicator also presented a buy signal.

Ripple price prepares for a potential rebound to $0.66

On the 6-hour chart, Ripple price has defended a key support level located at $0.41 and formed at the beginning of February. On top of that, the TD Sequential indicator has just presented a buy signal for the first time in months adding even more credence to the bullish outlook.

XRP/USD 6-hour chart

There seems to be almost no strong barriers on the way up besides the 50-SMA at $0.5 and the 100-SMA at $0.52. Climbing above both levels will easily drive Ripple price towards $0.66.

On the flip side, bears try to push XRP below the critical support level at $0.41. Losing this key point has the ability to drive Ripple price towards a new low at $0.34.

Share: Cryptos feed

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.