Ripple Price Prediction: XRP/USD Spikes to $0.79 Resistance

Ripple Price Prediction – July 30

The Ripple price renews the bullish trend after testing the support level of $0.69 since the European session.

XRP/USD Market

Key Levels:

Resistance levels: $0.95, $1.00, $1.05

Support levels: $0.55, $0.50, $0.45

XRP/USD is seen following an upward trend after plunging under $0.70 to test support at $0.69 a few hours ago. The sixth-largest cryptocurrency by market capitalization has on several occasions since the month of July, been purged from the upper boundary of the channel. However, the monthly high traded at $0.79 marked the end of the bullish action towards $1.00 and paved the way for losses under $0.70.

Ripple Price Prediction: Ripple Price May Continue to Keep the Uptrend

The Ripple price has commenced an intriguing recovery towards a $1.00 resistance level. The initial break above the upper boundary of the channel could boost the price up. However, the Ripple (XRP) may need to hit high above the $0.85 level before retreating back below the 9-day and 21-day moving averages. Meanwhile, from above, more hurdles may come into play above the upper boundary of the channel and of course, the nearest resistance level can be located at $0.90.

However, the trend remains in the hands of the bulls supported by the technical indicator where the Relative Strength Index (14) is trading above 65-level, building on the consistent recovery from the downside. More so, Ripple’s bullish scenario is emphasized by the RSI (14) indicator as it extends the action towards the north.

Meanwhile, a break above $0.95 and $1.020 resistance levels may most likely push the coin above the potential $1.05 resistance level while a break below the 9-day and 21-day moving averages could lead to the supports of $0.55, $0.50, and $0.45 respectively.

When compares with Bitcoin, the Ripple price is consolidating to the downside and trading towards the 9-day and 21-day moving averages. Meanwhile, the bulls may need to pushing the price above the upper boundary of the channel; breaking above the channel could take the price to the resistance level of 2200 SAT and above.

However, if the XRP/BTC decides to follow the downtrend, crossing below the 9-day and 21-day MAs could push it to the critical support level of 1400 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) is moving below 50-level, suggesting bearish signals.

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Source: https://insidebitcoins.com/news/ripple-price-prediction-xrp-usd-spikes-to-0-79-resistance