Ripple Bulls Are Ready To See XRP Above $0.30

Ripple is slowly rising today above the $0.2300 region against the USD and is following both Ethereum (ETH) and Bitcoin (BTC) from the backseat. However, many believe that XRP has the power to outperform the most dominant cryptocurrency and altcoin – and the Ripple bulls are definitely ready to see the cryptocurrency trading towards $0.2500 or $0.2850 in the coming days.

Recently, we saw a steady increase on the crypto market and a new market cap of $250 billion. This helped Ripple to recover above $0.2250 as its main resistance point – after which the XRP price followed a decent bullish past and surpassed the 2250 as its main resistance point – after which the XRP price followed a decent bullish past and surpassed the $0..
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2300 resistance point.

There was also a close above the $0.2320 resistance and the 100 hourly simple moving average. This was how a new weekly high for XRP was formed near $0.2359 and how the price managed to rise.

So, we can safely say that the Ripple bulls are closely watching the major bullish trend line forming with support near $0.2305 on the hourly chart of the XRP/USD pair. The trend line support is also very close to the 50% Fib retracement level of the recent wave from the $0.2259 low to the $0.2359 high.

On the upside, the altcoin news and rumors show that Ripple can safeguard the $0.2350 and $0.2360 levels soon and the price is likely to continue higher towards the $0.2450 resistance. The first serious resistance, in that manner, would sit near the $0.2500 and $0.2550 levels. A successful close above these levels may open the doors for a larger upward move towards the $0.3000 barrier in the coming days.

The XRP news today also show that a correction is always on the table. Even though the Ripple bulls are warm, there is always a chance for a retrace to the $0.2300 area (even though the chances are slim now).

The 100 hourly simple moving average is also waiting near the $0.2240 level for Ripple and XRP. Therefore, dips towards the $0.2250 and $0.2240 are very likely to find a solid buying interest in the near term.

Today’s technical indicators for Ripple (XRP) are as following:

Technical Indicators

• Hourly MACD – The MACD for XRP/USD is starting to gain momentum in the bullish zone.
• Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is right now near the 60 level, featuring a small bearish angle.
• Major Support Levels – $0.2305, $0.2300 and $0.2250.
• Major Resistance Levels – $0.2360, $0.2450 and $0.2550.