Ripple started an upside correction from the $0.2220 support area against the US Dollar. XRP price is now testing $0.2450 and it must surpass $0.2500 for a fresh rally to $0.3000.
Ripple price is currently recovering above the $0.2320 and $0.2400 levels against the US dollar.
The price is now facing a couple of key resistances near $0.2450 and $0.2500.
There is a major bearish trend line forming with resistance near $0.2430 on the hourly chart of the XRP/USD pair (data source from Kraken).
The price could either start a massive rally towards $0.3000 or fail near $0.2500 for a fresh decline.
Ripple Price Facing Key Resistance
Yesterday, we saw a strong decline in ripple below the $0.2350 support area and the 100 hourly simple moving average. XRP price even traded below the $0.2250 support level and formed a new weekly low at $0.2229.
It is currently correcting higher above the $0.2300 and $0.2350 resistance levels. The price also climbed above the 23.6% Fib retracement level of the downward move from the $0.2860 high to $0.2229 swing low.
The current price action is positive, but ripple seems to be facing a couple of key hurdles near the $0.2450 and $0.2500 levels. There is also a major bearish trend line forming with resistance near $0.2430 on the hourly chart of the XRP/USD pair.
Ripple Price
Above the trend line, the main resistance is near the $0.2500 area and the 100 hourly simple moving average. The 50% Fib retracement level of the downward move from the $0.2860 high to $0.2229 swing low is near the $0.2540 level to act as a significant resistance.
Therefore, a clear break above the trend line and then a follow up move above the $0.2500 resistance is must to start a strong rally. If ripple settles above the $0.2500 area and the 100 hourly SMA, the price could rise steadily towards $0.2850 and $0.3000 in the coming days.
Another Failure?
If ripple fails to climb above the $0.2450 and $0.2500 resistance levels, there are chances of another downward move. An initial support is near the $0.2350 level.
A successful close below the $0.2350 support level may perhaps restart downtrend. The next key supports on the downside are visible near the $0.2250 and $0.2220 levels.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently above the 50 level, with a positive bias.
Major Support Levels – $0.2350, $0.2250 and $0.2220.
Major Resistance Levels – $0.2450, $0.2500 and $0.2540. origin »
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Ripple is up over 2% and it is showing positive signs above the $0. 2400 resistance zone against the US Dollar. XRP price is likely to accelerate gains if it clears the $0. 2500 resistance. Ripple price started consolidating gains after it rallied towards the $0.
Ripple failed to stay above the $0. 2200 support and declined recently against the US Dollar. XRP price is showing bearish signs and it could continue to dive towards $0. 2000. Ripple price topped near the $0.
Ripple is up more than 10% and it broke the key $0. 2000 resistance area against the US Dollar. XRP price is showing positive signs, suggesting a similar breakout in bitcoin above $8,000. Ripple price succeeded in clearing a major resistance near $0.
Ripple started a downside correction from the $0. 2050 resistance against the US Dollar. XRP price tested the $0. 1900 support area and it is currently rising towards $0. 2000. Ripple price is trading nicely above the $0.
Ripple is rising steadily from the $0. 1680 support area against the US Dollar. XRP price is likely to rally 3%-4%, similar to the recent move in bitcoin and Ethereum. Ripple price is slowly gaining bullish momentum above the $0.
Ripple is up around 10% and it broke the key $0. 1650 resistance zone against the US Dollar. XRP price remains in a nice uptrend and it could continue to rise towards $0. 2000. Ripple price started a strong rise above the $0.
Ripple is down more than 5% and it broke the $0. 1550 support region against the US Dollar. However, XRP price is still trading nicely above the key $0. 1450 and $0. 1420 support levels. Ripple price started a fresh decline from the $0.
Ripple is up more than 10% and it broke the $0. 1550 resistance region against the US Dollar. However, XRP price is lacking strength and pointing a fresh decrease in the near term. Ripple price is up more than 10% and it tested the $0.
Ripple is trading nicely above the $0. 1200 and $0. 1300 support levels against the US Dollar. XRP price seems to be preparing for the next key break above the $0. 1600 resistance area. Ripple price is currently recovering from the $0.
Ripple is showing signs of a decent recovery above $0. 1400 against the US Dollar. XRP price could attempt to surpass the $0. 1650 resistance and start a strong rise. Ripple price is facing a couple of key hurdles near $0.
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Ripple gained recently and broke the $0. 2450 and $0. 2500 resistance levels against the US Dollar. XRP price is currently correcting, but it is likely to continue higher towards $0. 3000. Ripple price climbed higher and traded to a new monthly high at $0.
Ripple is slowly rising and it recently climbed above the $0. 2400 resistance against the US Dollar. XRP price remains in a steady uptrend and it is likely to continue higher towards $0. 3000. Ripple price is trading in an uptrend above $0.
Ripple is slowly rising above $0. 2300 against the US Dollar and following both Ethereum and bitcoin. XRP price is likely to continue higher towards $0. 2500 or $0. 2850 in the coming days. Ripple price is trading with a bullish bias above the $0.
Ripple extended its decline and broke the key $0. 2270 support against the US Dollar, similar to bitcoin below $8,500. XRP price is now at a risk of more losses towards $0. 2050 or $0. 2000. Ripple price is gaining bearish momentum and it is now well below $0.
Ripple tested the key $0. 2240 support area and recovered against the US Dollar, similar to bitcoin. XRP price is showing positive signs and it could rally to $0. 2550 if it breaks $0. 2420. Ripple price is recovering nicely from the $0.
Ripple is down more than 4% after it was rejected near $0. 2450 against the US Dollar, similar to bitcoin near $8,900. XRP price is now approaching the key $0. 2230 and $0. 2200 support levels. Ripple price declined steadily after forming a short term top near $0.
Ripple is facing hurdles near the $0. 2200 resistance against the US Dollar, similar to bitcoin near $8,200. XRP price is declining, but the bulls are likely to protect $0. 2080 and $0. 2070. Ripple price is correcting lower after it failed to surpass the $0.
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