Ripple is currently recovering above $0.2325 against the US Dollar and bitcoin is trading above $8,700. XRP price is likely to surge towards $0.2500 or $0.2600 once it clears the $0.2400-$0.2420 resistance.
Ripple price is showing a few positive signs above the $0.2320 area against the US dollar.
The bulls seem to be facing a couple of hurdles near the $0.2400 and $0.2420 levels.
Yesterday’s followed important bearish trend line is active with resistance near $0.2385 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is likely to start a strong rally if it settles above the $0.2400 resistance area.
Ripple Price To Continue Higher
After forming a support base above $0.2240 and $0.2260, ripple started a decent increase against the US Dollar. XRP price broke the $0.2320 resistance area and the 100 hourly simple moving average.
Furthermore, there was a break above the 23.6% Fib retracement level of the downward move from the $0.2540 high to $0.2240 swing low. However, the price faced a strong resistance near the $0.2400 area and it seems to be struggling to settle above the 100 hourly SMA.
More importantly, yesterday’s followed important bearish trend line is active with resistance near $0.2385 on the hourly chart of the XRP/USD pair.
Ripple Price
The trend line coincides with the 50% Fib retracement level of the downward move from the $0.2540 high to $0.2240 swing low. Therefore, ripple price must surpass the trend line and the $0.2400 resistance to continue higher in the near term.
A successful close above $0.2400 could start a strong rally and the price is likely to rise towards the $0.2500 and $0.2550 levels. Any further gains might lead the price towards the $0.2600 area.
What If XRP Fails Near $0.2400?
If XRP fails to continue above the $0.2400 resistance, it could resume its decline. The first major support on the downside is near the $0.2300 level (the neckline support).
If there is a clear break below the $0.2300 support, ripple could accelerate its decline towards the $0.2240 support zone in the coming sessions. Any further losses may perhaps call for a test of the $0.2120 support.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly losing momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently struggling to stay above the 50 level.
Major Support Levels – $0.2300, $0.2240 and $0.2200.
Major Resistance Levels – $0.2385, $0.2400 and $0.2420. The post appeared first on NewsBTC. origin »
The cryptocurrency market regained momentum on Monday, with total capitalisation climbing back above the $4 trillion mark. Bitcoin, Ethereum, and Ripple all posted notable price action, supported by favourable macroeconomic indicators and increasing institutional activity.
Ripple rallied above the $0. 400 and $0. 450 resistance levels against the US Dollar. XRP price is up over 25% and there could be more upsides in the near term. Ripple is gaining pace above the $0.
Ripple extended its rally above the $0. 8000 resistance zone against the US Dollar. XRP price even tested $0. 9500 and it is now consolidating gains. Ripple started a strong surge above the $0. 8000 and $0.
Ripple gained bullish momentum above $0. 5000 and $0. 5500 against the US Dollar. XRP price remains attractive on dips and it is likely to climb further above $0. 5750. Ripple gained strength and it even spiked above $0.
Ripple trimmed most gains from the $0. 6000 resistance against the US Dollar. XRP price is now trading above $0. 4500 and it could attempt a fresh increase above $0. 5500. Ripple broke the $0. 5500 support zone, but it stayed above $0.
Ripple started a strong rally after it settled above $0. 3000 against the US Dollar. XRP price is up over 50% and it even cleared the $0. 5000 barrier to move into a positive zone. Ripple started a strong increase after there was a break above $0.
Ripple rallied significantly above $0. 6000 and $0. 7000 before correcting lower against the US Dollar. XRP price is now consolidating above $0. 6200 and eyeing the next crucial break. Ripple started a strong rally after it settled above the $0.
Ripple is gaining pace above the $0. 2500 resistance against the US Dollar. It seems like XRP is aiming a run towards the $0. 2700 resistance level as long as it is above $0. 2400. Ripple is showing positive signs above the $0.
Ripple is forming a strong support base above the $0. 2800 level against the US Dollar. XRP price is showing positive signs and it seems like it could rally above the $0. 3100 and $0. 3200 levels.
Ripple surged more than 30% this past week to climb above $0. 3000 against the US Dollar. XRP price nosedived below $0. 3250, but technicals suggest a fresh increase above $0. 3150. Ripple price surged above the $0.
Ripple is resilient above the main $0. 1920 support zone against the US Dollar. As long as XRP price is above $0. 1900, it could drive the crypto market higher in the coming days. Ripple price is consolidating in a range above the $0.
Ripple is currently consolidating above the $0. 2000 support against the US Dollar. XRP price is likely to start a strong increase above $0. 2100 as long as it is above the 100 SMA (H4). Ripple price is currently trading nicely above the main $0.
Ripple is currently consolidating above the $0. 2100 support against the US Dollar. XRP price is showing bearish signs, but it could start a fresh increase as long as it is above the 100 SMA (H4).
Ripple is trading nicely in a bullish zone above $0. 1950 against the US Dollar. XRP price is likely to accelerate higher above the $0. 2000 and $0. 2020 resistance levels. Ripple price is showing signs of more upsides above $0.
Ripple price found support above the $0. 3100 level and recovered above $0. 3300 against the US dollar. There was a break above a major bearish trend line with resistance at $0. 3200 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price is holding gains above the $0. 4700 support level against the US dollar. There is a key bullish trend line formed with support at $0. 4800 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price extended slides recently, but it found support near $0. 4860 against the US dollar. There was a break above a key bearish trend line with resistance at $0. 5050 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price gained momentum recently and settled above the $0. 3000 and $0. 3200 resistances against the US dollar. There is a new important connecting bullish trend line in place with support at $0.
Key Highlights Ripple price traded higher and settled above the $0. 4700 resistance against the US dollar. Yesterday’s highlighted key bearish trend line was breached with resistance at $0. 4720 on the hourly chart of the XRP/USD pair (data source from Kraken).
The China Center for Information Industry Development (CCID) released the second iteration of its monthly Global Public Chain Technology Evaluation Index. As part of the Ministry of Industry and Technology Information, the CCID is releasing the monthly reports on behalf of the Chinese government.
Key Highlights Ripple price stayed above the $0. 5250 support and bounced back against the US dollar. There is a crucial ascending channel forming with support at $0. 5380 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price failed to move above the $0. 5620 resistance area and trimmed gains against the US dollar. There is a key connecting bullish trend line in place with support at $0. 5250 on the hourly chart of the XRP/USD pair (data source from Kraken).
Litecoin’s price falls again on Monday, but remains above support for the lows of June 14 and 16. The LTC / USD is at risk of falling to $ 89, if it fails to rise above the resistance at the $ 94 level.
Key Highlights Ripple price gained upside momentum as it managed to hold the $0. 5000 support against the US dollar. There is an ascending channel forming with support at $0. 5400 on the hourly chart of the XRP/USD pair (data source from Kraken).
Bitcoin slipped beneath the $86,000 mark on Monday, extending a short-term pullback that has erased late-November gains across major digital assets. XRP retreated more than 4% in the same period, as profit-taking and shifting institutional flows weighed on sentiment.
XRP price remained in a bear market and moved below the important support at $2, even as Ripple Labs made a major announcement on the RLUSD stablecoin.
The firm has started testing RLUSD on leading Ethereum L2 platforms. The launch reflects the growing demand for regulated stablecoins. RLUSD will go live on L2s after authorization by New York regulators.
Crypto pundit Crypto Wimar has explained why the Bitcoin, Ethereum, and XRP prices crashed, highlighting the continuous selling pressure. The crypto market is also at risk of further downward pressure due to macro factors such as the impending Japan rate hike.
Key takeaways XRP is down 1% in the last 24 hours and is trading at $1. 99. Failure to defend the $1. 96 support could see XRP dip lower. XRP drops below $2 The cryptocurrency market has underperformed over the past few days, with Bitcoin and other major coins currently in the red.
