Ripple’s XRP could rise to a $0.21 price level against the US dollar as the asset seems to be following a bullish flag pattern which could rally above the aforementioned level, so let’s read more in the upcoming Ripple XRP price news.
Ripple’s price is showing positive signs above the $0.1920 level against the US dollar and the price is trading at the $0.2000 resistance but it is now above the 100 simple moving average. There’s a crucial bullish flag that is forming close to the resistance of $0.2000 on the 4-hour charts of the XRP/USD pair. The pair could start afresh rally once it surpasses the $0.2000 and the $0.2030 resistance level.
Ripple’s XRP could rise above $0.21 since over the past few days the asset started a downside correction from $0.2118 swing high and corrected below the $0.2050 and the $0.2020 support level. The price even increased to the $1.900 level but the downsides were quite limited after. During the price decline, there was a break below the 50% fib retracement level of the upward surge from the $0.1741 low to the $0.2118 swing high. The bulls were able to save the $0.1890 support zone according to the 4-hour charts.
The 61% fib retracement level from the upward surge from the $0.1741 low to the $0.2118 high is also acting as strong support. The price is rising and is trading above the said level and the currency price action shows enough strength to start trading above the 100 simple moving average. There is a crucial bullish flag forming as well with resistance close to the $0.2000 on the charts for the XRP/USD pair. The pair also has to break the bullish flag resistance in order to start a new one as the next major resistance is close to the $0.2030 level above which there are chances of a steady increase to the $2120 level.
The price could correct lower to the $0.1945 and the $0.1920 support levels as the main support is getting close to the $0.1900 level. If there’s a daily close below the $0.1900 support zone as the price could continue to go down towards $0.1820 and the $0.1800 support levels. The 4-hour MACD for the XRP/USD is now gaining in the bullish zone and the RSI for the pair is currently correcting lower to the 50 levels.
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