Bitcoin Touched $12K While Ripple Price (XRP) Is Still Consolidating

2019-7-4 07:08

Ripple price remained in broad range and recently tested the $0.4070 level against the US dollar. The price is currently trading above the $0.4000 support, but it is facing many hurdles on the upside. There is a connecting bullish trend line forming with support at $0.4008 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could either break $0.4075 and climb higher or decline again below $0.4000.

Ripple price is still consolidating in a broad range against the US Dollar, while bitcoin climbed towards $12,000. XRP price must break $0.4075 and $0.4140 to continue higher.

Ripple Price Analysis

In the past few sessions, there was strong rise in bitcoin price above $11,500, but ripple price remained in a range against the US Dollar. The XRP/USD pair started a slow and steady rise from the $0.3814 swing low. It broke the $0.3920 and $0.4000 resistance levels. There was also a break above the $0.4050 level and the 100 hourly simple moving average. However, the price struggled to clear the $0.4070 resistance.

It corrected lower below $0.4050 plus the 23.6% Fib retracement level of the upward move from the $0.3814 low to $0.4068 high. However, the $0.3960 level acted as a support and the price climbed back above the 100 hourly SMA. Moreover, it stayed above the 50% Fib retracement level of the upward move from the $0.3814 low to $0.4068 high.

There is also a connecting bullish trend line forming with support at $0.4008 on the hourly chart of the XRP/USD pair. If there is a downside break below the trend line and the 100 hourly SMA, ripple price could accelerate losses below $0.3950. The next major support is near the $0.3850 level, below which there is a risk of more losses towards the $0.3750 level.

On the upside, an immediate resistance is near the $0.4070 level. If there is an upside break above $0.4070, the price could rise towards the next major resistance near $0.4140. Any further gains is likely to push the price towards the $0.4200 and $0.4220 resistance levels.

Looking at the chart, ripple price is clearly trading in a broad range and seems to be preparing for the next break either above $0.4070 or below $0.4000. If it fails to continue higher, there are chances of sharp declines below $0.3950 and $0.3900. Conversely, a close above $0.4100 might improve the market sentiment.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is slowly gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards the 50 level.

Major Support Levels – $0.4000, $0.3920 and $0.3850.

Major Resistance Levels – $0.4070, $0.4140 and $0.4200.

The post Bitcoin Touched $12K While Ripple Price (XRP) Is Still Consolidating appeared first on NewsBTC.

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Ripple (XRP) на Currencies.ru

$ 2.1764 (-2.84%)
Объем 24H $10.927b
Изменеия 24h: -2.89 %, 7d: -9.64 %
Cегодня L: $2.1764 - H: $2.2889
Капитализация $124.602b Rank 4
Цена в час новости $ 0.3974 (447.66%)

price xrp ripple touched bitcoin support still

Источник: newsbtc.com

price xrp → Результатов: 126


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