As on July 13, 2023 RIPPLE is priced at $0.72. From a technical analysis perspective, XRP price chart today presently experiencing a uptrend on the daily timeframe. The price resides above the 50 and 20 weekly EMA indicating a bullish sentiment.
To comprehend the existing levels of support and resistance for RIPPLE, we must examine the historical price data. Analyzing XRP daily chart reveals a trading range of $0.72 to $0.58 over the recent days.
Ripple XRP crucial support level lies at $0.68 significantly impacting the cryptocurrency. A dip below this level could potentially lead to further price decline, with the subsequent support level positioned at $0.58.
Conversely, XRP current resistance level resides at $0.78. A successful breakthrough beyond this level may initiate a bullish trend, with the subsequent resistance level set at $0.92.
Utilizing technical analysis indicators such as the Relative Strength Index RSI and Moving Averages can enhance our comprehension of the prevailing trend.
The RSI currently demonstrates a reading of 75-80 indicating a bullish zone where the bulls hold significant dominance. Also overpriced zone.
Ripple XRP Price Chart Technical Analysis Crypto
Regarding Fibonacci levels, from the top of $1.96 to the recent bottom of $0.28 on the weekly timeframe, ripple displaying bullish momentum. XRP price experienced a breakout from 0.236 fib level and found support at the $0.68 to $0.72 level indicating bullish sign. XRP PRICE is currently trading above the 0.236 level which stands at $0.68.
Additionally the horizontal line in the above image is providing resistance to XRP as the same price. It this level is broken, the next resistance will be at $0.92. This level holds significance as a potential support or resistance level within the trend.
Based on Fibonacci extensions and previous resistance levels, the upcoming targets for ripple are $0.78, $0.92 and $1.
However, failure to sustain above $0.68 might prompt further selling pressure, potentially driving ripple towards key support levels at $0.58 and $0.54
