Ripple remains strong above the $0.1900 level against the US dollar but it has to yet surpass the $0.2000 and $0.2050 resistance in order to gain bullish momentum in the near term as we are reading in today’s Ripple price news.
Ripple is now moving higher and is trading above the said level against the US dollar. The price is facing a few key resistances at $0.2000 and $0.2050. There was a recent break above the key bearish trend line with a resistance of $0.1975 on the hourly charts of the XRP/USD pair. The pair could even gain more bullish momentum if it clears the $0.2000 and $0.2050 resistance level. After successfully testing the $0.1850 level, Ripple started an upward move above the $0.1900 level. XRP broke the $0.1900 to move into a short term bullish zone.
There was a break above the 23% fib retracement level of the key drop from the previous position of $0.2250 high to the $0.1850 low. There was another break above the key bearish trend line close to the $0.1975 resistance on the hourly charts of the pair. Ripple remains strong above the $0.1950 level but it is facing a few key hurdles close to the $0.2000. The initial resistance is close to the 100 hourly simple moving average at $0.2010 while the first major resistance will be set at $0.2050. if XRP breaks below this support zone, there is a high chance of another upward move.
The next major resistance is close to the $0.2100 level above which the bulls could test the $0.2200 and the $0.2220 levels. If the ripple price doesn’t get the bullish momentum above the $0.1960, there is a chance of another decline. The first major support for the asset is close to the $0.1920 level below which the price could struggle to stay above $0.1900. there is another risk of a downside move to the $0.1850 level. The hourly MACD for the pair is losing pace in the bullish zone. The RSI for XRP/USD pair is going to the 50 levels while the major support levels are set at $0.1920 and $0.1900. The major resistance levels are set at $0.2000 and $0.2040.
Ripple’s XRP was proclaimed as the worst-performing asset of 2020 despite the many improvements over the past few weeks.
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