Ripple Technical Analysis / Crypto Market Analysis

Ripple Technical Analysis – 25-September-2024

FxNews—Ripple (XRP) has been in a mild bull market since its September 7 low of $0.5. The 50—and 100-period simple moving averages made a gold cross on September 12, and as of this writing, the XRP/USD trades at approximately $0.58.

The 4-hour chart below demonstrates the price, support and resistance levels, and technical indicators utilized in today’s analysis.

As the image above shows, XRP is in an uptrend and is currently testing the ascending trendline, which neighbors the $0.575 support, the September 23 low.

The Stochastic oscillator and RSI 14 hover in the middle, signaling a low momentum market. This is evident in the 4-hour chart, as the candles are small and moving sideways this week.
The Awesome oscillator bars are small and clinging to the signal line, indicating a range market.

Overall, the technical indicators suggest the primary trend is bullish, but the market has entered a consolidation phase.

Ripple (XRP) Forecast – 25-September-2024

The immediate resistance is at $0.549 (September 23 High). From a technical perspective, the uptrend will likely resume if the bulls (buyers) cross and stabilize the price above $0.594.

If this scenario unfolds, the uptrend could potentially target $0.61 (September 21 High), followed by $0.63 (September 24 High).

Also read: Litecoin Technical Analysis – 25-September-2024

Ripple (XRP) Bearish Scenario – 25-September-2024

Immediate support rests at $0.577, which coincides with the Supertrend indicator. If the bears (sellers) close and stabilize below $0.577, the consolidation phase could spread to the next support area at $0.56 (September 16 Low).

Furthermore, if the selling pressure pushes the price below $0.56, the next seller’s target could be the September 11 high at $0.542.

Ripple (XRP) Support and Resistance – 25-September-2024

Traders and investors should closely monitor the key levels below to make informed decisions and adjust their strategies accordingly as market conditions shift.

Support: $0.577 / $0.560 / $0.542
Resistance: $0.594 / $0.610 / $0.630