Ripple Price Analysis – XRP/USD Breaks Above $0.8000

Ripple Price Analysis

Ripple Price Analysis Key Highlights:

  • Ripple (XRP) broke through the $0.8000 barrier earlier today, reaching as high as $0.8060
  • The MACD indicator is sending a bullish signal
  • A major support is established around $0.7550

Ripple — New Support Level Tested

Ripple broke through the $0.74 level mentioned yesterday and even rose above $0.8000 for a brief moment before pulling back toward $0.7750. As of now, a major support level of $0.7550 has been established, and the coin is on the verge of moving up once again.

Ripple Price Analysis

Source: Tradingview

Investors wondering whether XRP could move back to $0.8000 should observe the price actions in the next few hours. If a resistance range of $0.7700 to $0.7750 could be broken through, chances are XRP could be headed for further gains.

Looking at the Technical Indicators:

  • MACD — the MACD indicator is showing a bullish trend
  • Volume — Ripple’s volume has held steady despite price continuing to fluctuate
  • Major Support Level — $0.7550
  • Resistance Level Range — $0.7700 to $0.7750

Featured Image: twitter

In addition to writing financial content and analysis, Jackson has worked as a business journalist at Stockwatch and research analyst at various organizations. He obtained his MA Economics from Concordia University in Montreal and BA Economics from the University of British Columbia, with special emphasis on environmental and industrial economics.