Ripple Continues To Surge Ahead, Poises For Fresh Uptrend

Apr 30, 2021 at 11:17 // News
Coin Idol
Ripple has rebounded as price reached a high

Ripple has rebounded above level $1.40 as the price reached a high of $1.60. On April 30, the current push on the upside is facing rejection at the $1.60 resistance zone.

Ripple Price Long-Term Forecast: Bullish

In the previous price action, on April 25, the bulls bought the dips as the market rallied to a $1.45 high. XRP price made a pullback and resumed a sideways move. The market was in range-bound move for four days between $1.30 and $1.45. Today, the price range has been broken as XRP rallied to the recent high. The current uptrend will be facing resistance at the $1.60 and $1.70 highs. On the upside, if the bulls clear the recent resistance levels, the altcoin will retest the $1.84 overhead resistance. Conversely, if XRP/USD turns down from the recent resistance level, the altcoin will decline to $1.40 and $1.20 lows. The altcoin is trading at $1.53 at the time of writing.

Ripple  Indicator Analysis

XRP has risen to level 62 of the Relative Strength Index period 14. It indicates that XRP is in the bullish trend zone and capable of rising on the upside. Ripple’s price breaks and closes above the resistance line of the descending channel. This indicates that the previous trend has been terminated. The current uptrend will continue on the upside.

XRP - Coinidol (3).png

Technical indicators:  

Major Resistance Levels – $1.95 and $2.0

Major Support Levels – $0.60 and $0.55

What Is the Next Move for Ripple (XRP)?

Ripple has resumed an upward move after rebounding above the $1.00 support. The Fibonacci tool has indicated a further upward move of XRP. Meanwhile, on April 14 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Ripple is likely to rise to level 2.0 Fibonacci extension or $3.45.

XRP - Coinidol 2 chart (3).png

Disclaimer. This analysis and forecast are the personal opinions of the author and not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing 

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