Technical Analysis for XRPUSD for 30th March 2022
Ripple Stabilizes as a Bearish Engulfing Bar Forms, Will XRP Break Above $0.90?
Past Performance of XRP
Ripple is up the crypto leaderboard but is underperforming BTC and ETH in the last trading day and week. XRP is trading within a bullish breakout pattern above a multi-week trade range, defining a bull flag in the daily chart. While XRP buyers have the upper hand, there must be a solid, high volume close above $0.90 for uptrend continuation.
Ripple Technical Analysis
XRP is within a bullish breakout pattern above a bull flag, as visible in the daily chart. Nonetheless, there are hints of weakness and possibly lower lows in the days ahead following the formation of a bearish engulfing bar on March 29. The failure of bulls to close above $0.90 and reverse losses further calls into question the strength of buyers. Still, provided prices are above $0.85 and the bull flag, traders may load on pullbacks with targets at $0.90 and later, $1.
What to Expect of XRP
The XRP price is rising with the crypto tide. A clear breakout above $0.90 may drive more demand for the coin, propelling it back to the H2 2021 trade range of $1.
Resistance level to watch: $0.90
Support level to watch: $0.85
Disclaimer: Opinions expressed are not investment advice. Do your research.
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