menuIcon
$ 97,379.2
BTC
$ 97,379.2
3.64 %
$ 1,865.54
ETH
$ 1,865.54
5.52 %
$ 0.7081
ADA
$ 0.7081
4.33 %
$ 603.80
BNB
$ 603.80
1.02 %
$ 152.66
SOL
$ 152.66
6.70 %
William Surberg
Jul 12, 2022
by William Surberg

XRP Technical Analysis: Bullish Trends Expected for the Next 24 Hours

XRP technical analysis

Table of contents

  1. Past Performance of XRP
  2. XRP Technical Analysis
  3. Upcoming Trend

Key technical points:

  • XRP technical analysis is slightly bullish.

  • XRP/USD pair found support at $0.2975.

  • The closest resistance is at $0.4315.

    • Past Performance of XRP

    In the last 24 hours, XRP has been on a slight uptrend. After opening at $0.3097, the digital asset reached a high of $0.3159 and is currently trading close to that level. The cryptocurrency found support at $0.2975, which helped it avoid further losses.

    Looking at the 4-hour chart, we can see that the XRP/USD pair has formed a descending channel. The digital asset is currently trading near the bottom of the channel. If it breaks out of the channel, it can increase to $0.4315. On the other hand, if XRP fails to break out of the channel, it might find support at $0.2900. XRP is currently trading at $0.3139 and is up by 1.09% in the last 24 hours.

    The immediate resistance for the XRP/USD pair is at $0.4129, which is the top end of the flag pattern. A break above this level could lead to further gains in the near term. On the downside, supports are located at $0.2975 and $0.2850.

    XRP Technical Analysis

    The XRP/USD pair has formed a bullish flag pattern on the hourly chart. The digital asset is currently trading at $0.3139, close to the bottom of the flag pattern. A break below this level could lead to further losses in the near term. On the upside, resistances are located at $0.3300 and $0.3500.

    The RSI indicator is close to the oversold levels, indicating that the XRP/USD pair might be due for a corrective rally in the near term. However, the MACD indicator is still in bearish territory, suggesting that the downtrend is still intact.

    Upcoming Trend

    If XRP breaks out of the descending channel, it can increase to $0.4315 in the near term. On the downside, if the digital asset fails to break out of the descending channel, it might find support at $0.2900.

    Follow us on: News
    Ripple XRP token XRP technical analysis
    XRP Technical Analysis: Bullish Trends Expected for the Next 24 Hours
    William Surberg
    Sergio is a cryptocurrency journalist based in the United States. He describes himself as late to the game, entering the cryptosphere when the price rise happened in December 2017. Having a computer engineering background, living in the United states, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

    Top Picks