Ripple (XRP) Remains Primed For Gains Until It Breaks $0.20
#crypto #bitcoin
Ripple retested the $0.2080 support level against the US Dollar. XRP price is currently rising and it is likely to gain bullish momentum towards $0.2350 unless it breaks the $0.2000 support. Ripple price is trading in a positive zone above the $0.2120 and $0.2080 supports against the US dollar. The bulls are currently attempting an upside break above $0.2200 and 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $0.2200 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to start a strong upward move if it settles above $0.2200 and $0.2220. Ripple Price Eyeing Upside Break After forming a short term top near $0.2270, ripple started a fresh decline (similar to bitcoin and Ethereum). XRP price broke the $0.2200 support area and the 100 hourly simple moving average, but it found support near the $0.2080 zone. A new weekly low is formed at $0.2075 and the price is currently recovering. It is trading above the $0.2120 and $0.2150 resistance levels. The bulls also pushed the price above the 50% Fib retracement level of the recent decline from the $0.2270 high to $0.2075 low. However, ripple is currently facing a strong resistance near the $0.2200 region. There is also a major bearish trend line forming with resistance near $0.2200 on the hourly chart of the XRP/USD pair. Ripple Price The trend line coincides with the 61.8% Fib retracement level of the recent decline from the $0.2270 high to $0.2075 low. If there is a clear break above the trend line resistance and $0.2200, the price is likely to continue higher. An immediate resistance is near the $0.2220 level, above which the bulls are likely to aim a test of the main $0.2350 resistance. Any further gains could lead the price towards the $0.2500 hurdle. Bearish Reaction? If ripple struggles to clear the $0.2200 resistance, there is a risk of another bearish reaction. An initial support is near the $0.2150 level, followed by $0.2120. The main support is near the $0.2080 region, below which the bears are likely to aim the key uptrend support at $0.2000. A successful close below $0.2000 may possibly open the doors for a larger decline in the coming days. Technical Indicators Hourly MACD – The MACD for XRP/USD is losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently rising and it is above the 50 level. Major Support Levels – $0.2150, $0.2120 and $0.2080. Major Resistance Levels – $0.2200, $0.2220 and $0.2350. Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.
OhNoCrypto
via https://www.ohnocrypto.com
Aayush Jindal, Khareem Sudlow
Ripple retested the $0.2080 support level against the US Dollar. XRP price is currently rising and it is likely to gain bullish momentum towards $0.2350 unless it breaks the $0.2000 support. Ripple price is trading in a positive zone above the $0.2120 and $0.2080 supports against the US dollar. The bulls are currently attempting an upside break above $0.2200 and 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $0.2200 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to start a strong upward move if it settles above $0.2200 and $0.2220. Ripple Price Eyeing Upside Break After forming a short term top near $0.2270, ripple started a fresh decline (similar to bitcoin and Ethereum). XRP price broke the $0.2200 support area and the 100 hourly simple moving average, but it found support near the $0.2080 zone. A new weekly low is formed at $0.2075 and the price is currently recovering. It is trading above the $0.2120 and $0.2150 resistance levels. The bulls also pushed the price above the 50% Fib retracement level of the recent decline from the $0.2270 high to $0.2075 low. However, ripple is currently facing a strong resistance near the $0.2200 region. There is also a major bearish trend line forming with resistance near $0.2200 on the hourly chart of the XRP/USD pair. Ripple Price The trend line coincides with the 61.8% Fib retracement level of the recent decline from the $0.2270 high to $0.2075 low. If there is a clear break above the trend line resistance and $0.2200, the price is likely to continue higher. An immediate resistance is near the $0.2220 level, above which the bulls are likely to aim a test of the main $0.2350 resistance. Any further gains could lead the price towards the $0.2500 hurdle. Bearish Reaction? If ripple struggles to clear the $0.2200 resistance, there is a risk of another bearish reaction. An initial support is near the $0.2150 level, followed by $0.2120. The main support is near the $0.2080 region, below which the bears are likely to aim the key uptrend support at $0.2000. A successful close below $0.2000 may possibly open the doors for a larger decline in the coming days. Technical Indicators Hourly MACD – The MACD for XRP/USD is losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently rising and it is above the 50 level. Major Support Levels – $0.2150, $0.2120 and $0.2080. Major Resistance Levels – $0.2200, $0.2220 and $0.2350. Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.
OhNoCrypto
via https://www.ohnocrypto.com
Aayush Jindal, Khareem Sudlow
