XRP/USD recovery from $0.26 remains consistent, is $0.30 achievable?

  • Ripple renews the bullish trend after testing support at $0.26.
  • The path of least resistance is upwards as highlighted by the RSI and the MACD.

Ripple embarked on an upward roll after plunging further under $0.30 to test support at $0.26. The third-largest cryptocurrency by market capitalization has on multiple occasions in August been purged from highs above $0.30. A monthly high traded at $0.32 marked the end of the bullish action towards $0.40 and paved the way for losses under $0.30.

Following the support at $0.26, XRP commenced an intriguing recovery towards $0.30. The initial break above the descending trendline boosted the price farther up. XRP/USD hit highs above $0.28 before stalling just before the 100 SMA in the 4-hour range. Glancing upwards, more hurdles are envisaged at $0.29 and of course, the psychological resistance at $0.30.

For now, the trend remains in the hands of the bulls supported

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