Ripple price has established an upside trend since the lows on March 13, as the risk appetite returns to markets after governments stepped in with colossal emergency packages to support the battered from coronavirus outbreak economies. Enthusiasm return to cryptocurrencies market as bitcoin approaches the $7,000 mark.
Bitcoin price is 0.28% higher at $6,821, while litecoin is 0.88% higher at $40.34 while Ethereum is 0.47% higher at $142.37. The Ripple – XRPUSD market capitalization is at 7.87 billion with a trading volume reaching 2.28 billion in the last hours. The top cryptocurrencies market cap has reached 190.74 billion.
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Ripple Price Technical Levels to Watch
Ripple price is 0.73% higher at 0.1797, marking the fifth consecutive session with gains. The technical picture has improved in the short term, but the longer-term trend remains bearish, as Ripple trading below the major daily moving averages.
On the upside, first resistance for Ripple will be met at $0.1799 the daily high; If Ripple remains well bid above, the next hurdle will be met at $0.1871 the high from yesterday’s trading session. A credible move above 0.1871 would be likely to open the door for a bigger rally. Next resistance to watch is at 0.2111 the 50-day moving average.
On the flip side, first support for XRPUSD stands at $0.1776 today’s low. The next support for XRPUSD will be met at $0.1676 the low from April 1st. In case of a break below the $0.1676 support level, the Ripple price could correct further towards the $0.1622 level in the near term the low from March 29th trading session.
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