Ripple Price Analysis – May 30

Azeez Mustapha
  • The Ripple asset may reach $0.65 if it overcomes the resistance at $ 0.62.
  • The price is making a series of higher highs and higher lows.

Ripple, XRPUSD, CryptoCompare chart

XRPUSD Medium-term Trend: Bullish

Supply Levels: $0.64, $0.63, $ 0.62

Demand levels: $0.58, $0.59, $0.60

The XRPUSD pair was also in a bearish market. On 28 May, the Ripple price fell to $0.55 and the asset went into a range-bound movement for two days. The range-bound movement resulted in a bullish trend. Ripple was trading at $0.61 at the time of writing. The weekly chart shows the price in a bullish trend, breaking broke the resistance level at $0.60.

The asset price also broke the bearish trend line and the candlestick closed at the opposite of the trend line, indicating a reversal of price. Ripple is now trading above $0.60 and it is likely that the asset will reach $0.65 if it overcomes the resistance at $ 0.62. The relative strength index period 14 is level 68 indicating that the price is in the bullish trend zone.

XRPUSD Short-term Trend: Bullish

Ripple, XRPUSD, CryptoCompare chart

The daily chart shows Ripple in a smooth uptrend. The price is making a series of higher highs and higher lows. A bullish trend line is drawn, showing the support levels where you can place your long trades. The arrow points to the support level where you can place your long trades.

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