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- The XRP is finally showing sustainability at the support level of $0.20
- The heavy downfall faced by ripple after touching the resistance area of $0.20 is coming to end.
- The XRP/BTC pair is also performing positively with the overall gain of 3.52% bringing the level to 0.00002742BTC.
From the starting of April, Ripple is enjoying pricing recovery due to the significant bullish momentum in the market. current price of xrp crossed the major hurdle of $0.20 without any hesitation and reached its critical resistance area of $0.23. Due to which it started facing a heavy downfall which resulted in significant price pullback. It touched the major support level of $0.20 and currently held upon it.
However, crossing the crucial mark of $0.20 is definitely a positive sign for the cryptoasset. A break above the price level of $0.23 which pushes the XRP prices to a safe zone. The current price is $0.21 with an overall gain of 6.93%. The market capitalization is $8,865,228,445 and volume traded of $2,849,310,336.
The technical chart reflects on the bullish momentum build by Ripple from the starting of April which is later followed by the price recovery line. XRP touched its month-high of $0.23 during its bullish momentum and currently is at the support level of $0.21 due to the profit booking momentum.
The technical indicators and oscillators suggest that the support level of $0.20 will provided XRP the much needed boost. MACD levels have reached the bullish zone with significant buying volume which is a positive sign. RSI is also reaching a strong bullish level of 60 in the graph with a negative divergence. CCI is also in the overbought region but close to the normal zone.
Resistance level: $0.25 and $0.28
Support level: $0.21 and $0.19
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
