Ripple Is Holding Recent Gains but Stuck Below $0.21 Resistance
Jul 25, 2020 at 11:02 //
News
Ripple in its uptrend has breached the resistance at $0.20 and $0.205 but has failed to break the resistance at $0.21. Buyers have retested the resistance at $0.21 twice without breaking it.
The bulls are making their third attempt at the resistance. In the first uptrend, buyers pushed XRP above $0.21 as price reached the overbought region. There was a bearish reaction as XRP was repelled. Ripple dropped to $0.19 low.
The price corrected upward and started a new uptrend. The bulls were successful as the market returned to the $0.21 high on July 23. The bulls were resisted again as the price fell and consolidated above $0.205 support. XRP is rising and approaching the $0.21 resistance. A break above the $0.21 resistance will propel price to break the $0.215 resistance and rally above $0.22 high.
Ripple indicator analysis
Ripple is rising as the price bars are above the EMAs. The crypto is in a bullish momentum as the price is above 70% range of the daily stochastic. Ripple is currently battling the resistance at $0.21 to move upward.
Key Resistance Zones: $0.35, $0.40, $0.45
Key Support Zones: $0.25, $0.20, $0.15
What is the next move for Ripple?
Ripple upward move will depend on breaking the resistance at $0.21. The coin will rally above the $0.22 high if the bulls are successful. Ripple will be out of the bottom of the chart if the current resistance is breached. The coin will be in a range-bound move below the resistance if it fails to breach the current level.
Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @coinidol.com By Coin Idol, @Khareem Sudlow