Ripple’s lack of bullish momentum, could stop the asset from the recovery of $0.20 as Ripple is slowly correcting higher above the $0.1850 level against the US dollar. XRP has to break this level and the 100 hourly SMA in order to start afresh upward move so, in the latest Ripple XRP price news, we take a closer look at the analysis.
Ripple is still trading in a bearish zone below the $0.1920 and the $0.1880 levels against the USD. The price is now approaching the $0.1880 resistance and the 100 hourly simple moving average. There was a short break above the major declining channel of $0.1870 on the hourly charts so the pair could start a strong increase if it manages to clear the $0.1900 zone. The ripple price remained in a bearish zone and settled below the key $0.1920 level. XRP continued its decline below the $0.1880 support and the 100 hourly simple moving average. The asset traded as low as $0.1848 but there was a break above this level later with no major signs of an upward move.
There was even a break above the major declining channel with a resistance close to the $0.1870 on the hourly charts. The pair is getting close to the $0.1880 resistance and the 100 hourly simple moving average as the 23% fib retracement level of the downward move from $0.1986 high to $0.1848 low is also getting closer to the $0.1880 zone. XRP’s lack of bullish momentum could prevent it from surpassing this level as the next one of $0.1920 acts as a hurdle on multiple occasions, which only means more trouble for the coin.
XRP’s price now coincides with the 50% Fib retracement level from the downward movement of $0.1986 high to $0.1848 low. A successful break above the $0.1920 resistance has to happen in order for an uptrend to continue and lead XRP to the $0.2000 resistance level. Ripple is still lacking the bullish momentum above $0.1850 and if it continues to struggle above the $0.1880 resistance zone or fails to settle above the 100 hourly SMA, there will be a risk of a fresh decline. Initial support is seen close to the $0.1850 level while the main support is set at $0.1825 and below the price could slide to the $0.1780 level. The MACD for the pair is moving into the bullish zone while the hourly RSI for the pair is well above the 50 levels.
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