Ripple (XRP) Shows Strength after Five Days of Retracement

• Ripple (XRP) broke out of the five days descending wedge pattern with a 2.59% price increase.
• The XRP/USD pair may visit previous resistance if the bulls continue to power the momentum.

Ripple’s XRP is now showing strength after meeting the $0.28, and $0.27 supports we predicted in our previous Ripple’s XRP analysis. The price of XRP is now up by +2.59% as the cryptocurrency appeared to be witnessing an intense buying pressure in the last 3-hours of trading. As the bulls step back in the market, we can expect significant price growth in the next few days.

Ripple’s Current Statistics

Trading Price: $0.285

Market Capitalization: $12,292,600,487

Trading Volume: $1,301,984,031

Key Resistance Levels: $0.30, $0.31, $0.32

Key Support Levels: $0.28, $0.27, $26

Ripple Price Prediction for September 23, 2019

Ripple’s (XRP) has seen a five-day decent retracement move with a descending wedge pattern which is now broken to the upside after creating support at the $0.266. Following the recent bullish breakout, the price is likely to surge at $0.30, $0.31 and $0.32 resistance.

However, the market is likely to retest the $0.28 and $0.27 support before we can validate a proper bullish momentum. The $0.26 support may further suppress selling pressure. From a technical standpoint, the XRP/USD pair is rising back with a more price increase is likely to play out.

Conclusively

Following the last 3-hours surge in volatility that led to a significant rise in the market along with a wedge break-up, we can expect the price of Ripple’s XRP to swing higher until the market turns weak. Nevertheless, we may see a slight drop to previous support before continuing a bull-run.

Technical Indicator Reading

RSI for Ripple’s XRP is now testing the upper band, which seems sturdy for the short-term bull to overcome. A cross to the overbought area may bring more rises in the market.

MACD is attempting to climb above the zero level, although the native cryptocurrency of Ripple is still struggling in the negative zone. A crossover should confirm a robust bullish move for the market.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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