Ripple price has created a nice uptrend since the lows on March 13, as the risk-off sentiment improves across the board after the third day of dropping new coronavirus cases and deaths in Italy, Spain and UK. Ripple price is gaining momentum above the $0.18 mark, and as we wrote in our previous analysis, Ripple price bulls target $0.1850, and that is the case today. Ripple managed to break above the $0.1850 today while also tested the $0.19 mark but reiterated, at least for now.
Bitcoin price is 4.74% higher at $7,095. Ethereum price is rising today; 3 reasons Why ETHUSD could fall back to $150. Litecoin is 4.55% higher at $42.25. The Ripple – XRPUSD market capitalization is at 8.24 billion with a trading volume reaching 2.05 billion in the last hours. The top cryptocurrencies market cap has reached 1990.59 billion.
Ripple price is 4.75% higher at $0.1878, marking the seventh session with gains out of the last eight. The technical picture has improved as the crypto pair makes fresh three week highs and approach the 50-day moving average critical resistance mark.
On the upside, immediate resistance for XRPUSD will be met at $0.1900 the daily high; If Ripple remains well bid above, the next obstacle will be met at $0.2034 the 50-day moving average. A credible break above $0.2034 would likely to open the way for a bigger rally. Next resistance to watch is at $0.2105 the high from March 12.
On the other side, first support for Ripple stands at $0.1792 today’s low. The next support for XRPUSD will be met at $0.1741 the low from April 2. In case of a move below the $0.1741 support level, the XRPUSD price could correct further towards the $0.1619 level in the near term the low from March 30 trading session.