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.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
CryptoAltum does not accept any clients under the age of 18.