Ripple Price Breaks Above the 50-Day Moving Average

Ripple price positive momentum accelerates above the 0.2000 mark, and as of writing the crypto pair managed to break above the critical 50-day moving average. The healthy uptrend that started since the lows on March 13 is intact as the risk appetite has returned to markets. Ripple price is gaining momentum above the $0.18 mark as we wrote in our yesterday’s analysis, and higher levels might be on the cards.

Bitcoin price is 1.08% higher at $7,431. Ethereum (ETHUSD) is 2.00% higher at 175.00. Litecoin is 3.66% higher at $46.77. The Ripple – XRPUSD market capitalization is at 8.95 billion with the trading volume reaching 2.85 billion in the last 24 hours. The top cryptocurrencies market cap has reached 211.41 billion.

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Ripple Price Levels to Watch

Ripple price is 3.05% higher at $0.2042, marking the eighth trading session with gains out of the last nine. The technical outlook is bullish now as XRPUSD break above the 50-day moving average. If Ripple clears that level, then we might see a move up to 0.2210. 

On the upside, first resistance for Ripple will be met at $0.2057 the daily top; If Ripple remains actively bid above, the next obstacle will be encountered at $0.2094 the high from March 12. A credible break above $0.2094 would likely to open the way for a bigger rally. Next resistance to watch is at $0.2216 the 100-day moving average. 

On the flip side, first support for XRPUSD stands at $0.1951 today’s low. The next support for Ripple will be met at $0.1795 the low from yesterday’s trading session. In case of a move below the $0.1795 support level, the Ripple price could correct further towards the $0.1619 level in the near term the low from March 30 trading session. 

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