Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Launchpad
Be early to the next big token project
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
XRP Price Retreats After Massive 80% Rally, Buy The Dips?
XRP price rallied over 80% after the court’s ruling and jumped above $0.80 against the US Dollar. It tested the $0.95 zone and is currently correcting gains.
Ripple’s XRP Price Surges Over 80%
After the court’s verdict in favor of Ripple, XRP saw a monster rally above the $0.45 resistance. It broke many hurdles near $0.50, dragging Bitcoin and Ethereum high as well.
There was a break above a major bearish trend line with resistance near $0.50 on the daily chart of the XRP/USD pair. It opened the doors for a strong increase above the $0.65 resistance. The price gained over 80% and even spiked toward the $0.95 level.
A high is formed near $0.9479 and the price is now correcting gains. It is trading below the 23.6% Fib retracement level of the upward move from the $0.4460 swing low to the $0.9479 high.
XRP is still well above $0.5000 and the 100-day simple moving average. Immediate resistance is near the $0.85 level. The first major resistance is seen near the $0.92 level, above which the price might revisit the $0.95 resistance zone.
Source: XRPUSD on TradingView.com
The main barrier could be near the $1 level. A clear break above the $1 resistance could open the doors for a sharp increase toward the $1.10 resistance. The next major resistance above the $1.10 level could be near the $1.20 level.
Are Dips Supported?
If XRP fails to clear the $0.850 resistance, it could continue to move down. Initial support on the downside is near the $0.750 level.
The first major support could be near the $0.70 level or the 50% Fib retracement level of the upward move from the $0.4460 swing low to the $0.9479 high. If the price fails to stay above $0.70, it could start another major decline toward $0.55.
Technical Indicators
Daily MACD – The MACD for XRP/USD is now losing momentum in the bullish zone.
Daily RSI (Relative Strength Index) – The RSI for XRP/USD is in the overbought zone.
Major Support Levels – $0.7500, $0.7000 and $0.6500.
Major Resistance Levels – $0.8500, $0.9200 and $0.9500.