Ripple price is currently surging above $0.26 level. The XRPUSD pair is likely to accelerate gains towards the $0.30 level as long as it is above $0.25.
Last week, the price Ripple (XRP) was in a range-bound movement after crypto failed to climb above $0.26. On October 1, the bulls pushed the price to an important level of $0.26 but were rejected. As a result, Ripple price declined to the $0.24 support level.
Finally, the bulls recovered from there forming a green candle to $0.25 level. Ripple price surged above the $0.26 resistance level and formed a high near the $0.27 level.
On the upside, if more buyers emerge, the coin will face resistance at the $0.28 price level. On the downside, if the bulls fail to the uptrend, the crypto’ price will continue its range-bound move between the levels of $0.26 and $0.24 price levels. Meanwhile, the Moving Averages Convergence Divergence (MACD) line and the signal line are above the zero line which indicates a buy signal.
On the 1-hour chart, XRPUSD price is clearly surging with a positive bias above $0.26 level. There are possibilities that the market will extend recovery above the $0.27 resistance levels in the coming sessions. If all goes well, traders can expect the price of XRPUSD to surpass $0.28 level and trade towards the $0.30 resistance level.
On the other hand, if there is a downside correction, the bulls might protect the $0.2650 and $0.2620 levels (the previous resistance levels). Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
