- Ripple is dancing with $0.3217 after correcting higher from the lows formed at $0.3183.
- In the short-term Ripple is bullish and could stay above $0.32 and the upper limit at $0.35.
Ripple, Bitcoin, and Ethereum are leading from behind following the retracement from February highs. The trading this week kicked off with digital assets flying the bullish flag pattern high. The gains come after an extended period of extended declines.
Bitcoin is 1.16% lower today after sliding below $3,900. The largest crypto on the market is trading at $3,892 from the intraday highs of $3,984.92. On the other hand, Ethereum is trending 2.71% lower and exchanging hands at $145. The rest of the top twenty cryptocurrencies are in the red with NEO and Litecoin leading in declines of 6.23% and 5.5% respectively.
Ripple is dancing with $0.3217 after correcting higher from the lows formed at $0.3183. A bullish force is building up above the initial support at $0.3199; coinciding with the previous low (4-hour range) and previous low (1-hour range). Second support will prevent declines towards $0.30 at $0.3099; the 23.6% Fib retracement level (1-minute range) and the 4-hour 200-period Simple Moving Average (SMA). In the event this level caves in due to increased selling pressure, Ripple will find solace at $0.3032.
As long as the bulls can keep the price above $0.32, XRP/USD has the potential to attack $0.3266 resistance level at the 15-minutes Bollinger Band Middle and the 161.8% Fib level (1-week range). A correction above this level will remain largely unopposed until the price clocks $0.35; as highlighted by the 61.8% Fib level (1-minute range). In the short-term is bullish and could stay above $0.32 and the upper limit at $0.35.
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