Ripple Price (XRP) Rebounding Nicely As Bitcoin Holding Above $10.2K
#crypto #bitcoin
Ripple price climbed above the $0.2650 and $0.2700 resistance levels to move into a positive zone. Moreover, there was a break above the $0.2800 resistance and a close above the 100 hourly simple moving average. The upward move was positive, with a break above the $0.2850 resistance. However, the price ran into a crucial resistance area near the $0.2900 and $0.2920 levels.
At the moment, the price is correcting gains and recently declined below the 23.6% Fib retracement level of the upward move from the $0.2616 low to $0.2913 high. However, there are many supports on the downside near the $0.2750 and $0.2700 levels. Additionally, there is a key bullish trend line forming with support near $0.2700 on the hourly chart of the XRP/USD pair.
The 50% Fib retracement level of the upward move from the $0.2616 low to $0.2913 high is also near the $0.2760 level to act as a support. Therefore, if there is a downside correction, the bulls are likely to protect $0.2750 and $0.2700. On the upside, the main resistances are near $0.2900 and $0.2920. Therefore, a successful break above $0.2920 might accelerate gains towards the $0.3000 and $0.3050 levels.
Looking at the chart, ripple price is clearly closing in towards the key barriers near $0.2920. If the price struggles to climb above $0.2920, there could be a downward move towards the $0.2700 level. Conversely, a successful break above $0.2920 could pump the price towards or above $0.3000 in the near term.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently placed well above the 50 level.
Major Support Levels – $0.2750, $0.2700 and $0.2650.
Major Resistance Levels – $0.2900, $0.2920 and $0.3000.
The post Ripple Price (XRP) Rebounding Nicely As Bitcoin Holding Above $10.2K appeared first on NewsBTC.
OhNoCrypto
via https://www.ohnocrypto.com
Aayush Jindal, Khareem Sudlow
- Ripple price is currently trading with a positive bias above $0.2750 against the US dollar.
- Bitcoin price climbed above the $10,200 and $10,300 resistance levels to start a decent recovery.
- There is a key bullish trend line forming with support near $0.2700 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair is likely to accelerate higher above the $0.2900 and $0.2950 resistance levels.
Ripple Price Analysis
This past week, we saw a strong decline in XRP price below the $0.3000 support against the US Dollar. The XRP/USD pair even broke the $0.2500 support level. Finally, it traded towards the $0.2340 level and recently started an upside correction. The crypto market recovered in the past few sessions, with positive moves in Ethereum, ripple, EOS and litecoin.Ripple price climbed above the $0.2650 and $0.2700 resistance levels to move into a positive zone. Moreover, there was a break above the $0.2800 resistance and a close above the 100 hourly simple moving average. The upward move was positive, with a break above the $0.2850 resistance. However, the price ran into a crucial resistance area near the $0.2900 and $0.2920 levels.
At the moment, the price is correcting gains and recently declined below the 23.6% Fib retracement level of the upward move from the $0.2616 low to $0.2913 high. However, there are many supports on the downside near the $0.2750 and $0.2700 levels. Additionally, there is a key bullish trend line forming with support near $0.2700 on the hourly chart of the XRP/USD pair.
The 50% Fib retracement level of the upward move from the $0.2616 low to $0.2913 high is also near the $0.2760 level to act as a support. Therefore, if there is a downside correction, the bulls are likely to protect $0.2750 and $0.2700. On the upside, the main resistances are near $0.2900 and $0.2920. Therefore, a successful break above $0.2920 might accelerate gains towards the $0.3000 and $0.3050 levels.
Looking at the chart, ripple price is clearly closing in towards the key barriers near $0.2920. If the price struggles to climb above $0.2920, there could be a downward move towards the $0.2700 level. Conversely, a successful break above $0.2920 could pump the price towards or above $0.3000 in the near term.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving into the bearish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently placed well above the 50 level.
Major Support Levels – $0.2750, $0.2700 and $0.2650.
Major Resistance Levels – $0.2900, $0.2920 and $0.3000.
The post Ripple Price (XRP) Rebounding Nicely As Bitcoin Holding Above $10.2K appeared first on NewsBTC.
OhNoCrypto
via https://www.ohnocrypto.com
Aayush Jindal, Khareem Sudlow