Ripple (XRP) Price Analysis – March 26
The number three biggest crypto has performed very low to expectation since the 2019 market opens, yet holding a market cap valuation of $12.6 billion with $747 million. However, XRPBTC enthusiasts are much anticipating for a significant positive move as XRPUSD decides on next play out. Today, Ripple market is trading at around $0.303 price level with -0.36% 24-hours change.
Resistance levels: $0.325, $0.34, $0.35
Support levels: $0.30, $0.29, $0.28
Following the late February surge, XRPUSD has been responding to a wedge pattern as price action now sitting on the lower trend line. As viewed on the 4-hours RSI, trading has since been within the range of 70 and 30 lines of the indicator.
Respecting the wedge trend, a rebound is expected to walk price to test the upper trend line at $0.325 resistance. The 4-hours Stochastic RSI would swing to the overbought by then. Otherwise, a possible fall could find support at $0.3 and beyond; placing the market in a bearish state.
More so, a significant cross above the channel could sustain the bulls to $0.34 and $0.35 highs. Meanwhile, Ripple is currently on a ranging trend; deciding on the next wave.
For the past one month, Ripple has been on a long decline after a strong surge to 8800 SAT high. Since the beginning of the year 2019, XRPBTC is yet to witness a significant rise amongst the top 20 coins as value remains substantially low; as revealed on the 4-hours RSI.
Despite the market condition, Ripple is still ranked the Third World largest crypto-asset behind Ethereum. Maintaining the channel trend, a bearish surge could probably pull price to the nearest supports at 7300 SAT and 7000 SAT.
A bounce up, however, is likely to meet a major resistance at 7900 SAT; touching the upper channel. The 4-hours Stochastic RSI should flow upward by then. A notable breach above the channel may turn XRP trend on bullish. The next key resistance levels would be 8200 SAT and 8400 SAT. As of now, there’s no sign for a reversal.
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