Ripple (XRP) analysis: price returns to support that led to a rise to $ 0.73 – BLOX

Ripple has dropped back to a support that is very important. This place has already ensured that XRP could rise further to 0.73 and 0.90 dollars several times. Let’s look at the graphs.

The big picture

To analyze Ripple’s strongest price levels, we need to look at the weekly chart of XRP. Here we see the most important gray areas at the prices of $0.90, $0.58 and $0.30. In addition, a blue zone has been drawn, but we will come back to that later.

Currently, XRP sits between the two upper gray zones, having just arrived at the lower zone. In the long term, the coin is still making higher lows (as seen by the blue arcs), which is bullish for the price movement.

As long as this continues, this is very positive for XRP as buyers continue to buy higher. This is then usually followed by higher highs. Only this time XRP reaches a horizontal level that turned out to be a bit too strong: the blue zone, which is around a price of 0.73 dollars.

Can the price return to $0.73?

XRP has often managed to rise from the middle zone towards this blue level – even further, towards $ 0.90. But right now this blue zone seems a bit too strong for that. To analyze this better, let’s also take a quick look at the daily chart of XRP. Here each candle represents 24 hours, allowing us to better see the movements of the past few days.

Here we can clearly see how XRP encountered resistance at its previous two highs. This created the blue zone that eventually pushed the price back to $0.58. And it is logical to think that this is not positive for the price, but the opposite seems to be true. A descent to this zone offers many possibilities.

Until the currency falls below the gray zone, the price will remain bullish as the higher lows have not yet been broken. If these continue in the near future, it would not be surprising if XRP could rise back to $0.73, or even to $0.90. It has already happened 5 times, as you can see in the weekly graph, so it is not surprising if this scenario will happen again.