Ripple (XRP) Bullish Breakout Seems Real: Indicators Suggest Sustained Rally

2020-7-23 10:58

Ripple is up over 2% and it broke the main $0.2000 resistance zone against the US Dollar. XRP price is trading in a positive zone and it could continue to rise towards $0.2120 or $0.2150.

Ripple price broke a couple of important hurdles near the $0.2000 level against the US dollar. The price spiked towards $0.2050 and it is currently correcting gains. There was a break above this week’s followed bullish flag with resistance near $0.1990 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could correct in the short-term, but it is likely to resume its upward move towards $0.2120. Ripple Price Breaks Key Resistance

In the past few analysis, we followed a bullish flag pattern for ripple’s XRP, with hurdles near $0.2000. The price did remain in a positive zone above the $0.1920 support level and the 100 simple moving average (4-hours).

As a result, the price broke to the upside and cleared a heavy resistance near $0.2000. There was also a break above this week’s followed bullish flag with resistance near $0.1990 on the 4-hours chart of the XRP/USD pair.

The pair spiked towards the $0.2050 level and traded to a new weekly high at $0.2055. The price is currently correcting lower and trading below $0.2040. An initial support is near the $0.2025 level, plus the 23.6% Fib retracement level of the recent upward move from the $0.1916 low to $0.2055 high.

Ripple (XRP) price settles above $0.2000. Source: TradingView.com

On the downside, the main support is near the $0.2000 level and the recent breakout zone. The 50% Fib retracement level of the recent upward move from the $0.1916 low to $0.2055 high is also near the $0.1985 level.

The price is clearly showing a lot of positive signs and it might continue to rise above the $0.2050 level. The next major resistance is near the $0.2120 level, above which the bulls are likely to aim a test of $0.2150.

Downsides Likely To Be Limited in XRP

In the short-term, there could be a downside correction in ripple below $0.2020. However, the bulls are likely to defend the $0.2000 and $0.1985 support levels.

If there is a bearish break below the $0.1985 support, there is a risk of a trend line. The last line of defense could be 100 simple moving average (4-hours) and $0.1965, below which the price might revisit $0.1900.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is slowly gaining strength in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently well above the 55 level.

Major Support Levels – $0.2020, $0.2000 and $0.1985.

Major Resistance Levels – $0.2050, $0.2120 and $0.2150.

Take advantage of the trading opportunities with Plus500

Risk disclaimer: 76.4% of retail CFD accounts lose money.

origin »

Ripple (XRP) на Currencies.ru

$ 2.1167 (-0.29%)
Объем 24H $5.878b
Изменеия 24h: 5.05 %, 7d: -8.82 %
Cегодня L: $2.0147 - H: $2.1391
Капитализация $121.523b Rank 4
Цена в час новости $ 0.2043 (936.07%)

ripple broke price zone xrp rise towards

Источник: newsbtc.com

ripple broke → Результатов: 126


Crypto Trading Insights: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) Price Analysis For January

Even as the rest of the world labored through the first month of the new decade enshrouded beneath louring apocalyptic clouds – a world war seemed briefly imminent, half of Australia turned to ashes, flash floods ravaged East Africa and the most virulent virus since the Spanish flu broke out – Bitcoin marched on impregnably […]

2020-2-7 01:06


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

XRP Jumps 4%, Whale Reacts With $69 Million Coinbase Deposit

On-chain data shows an XRP whale has moved a large amount of the asset to Coinbase following a 4% Christmas rally in its price. XRP Is Up More Than 4% On Christmas Day After a period of struggle in cryptocurrencies across the board, Christmas has brought back some bullish winds as Bitcoin and company have made some recovery.

XRP Price Battles Key Hurdles: Can Bulls Prevail?

XRP price corrected some losses and climbed above the $2. 25 zone. The price is now struggling to clear the $2. 350 resistance zone. XRP price is attempting a fresh increase above the $2. 250 resistance zone.

XRP Price Prediction: Wave 2 And 5 Targets Put XRP At $7 And $13

A crypto analyst has set an ambitious target between $7 and $13 for the XRP price, basing his predictions on the Elliott Wave theory and Fibonacci levels. According to the analyst’s price chart, Wave 2 and 5 could push XRP to these key targets, marking new all-time highs for the cryptocurrency.

XRP Price Fresh Surge: Bulls Gear Up for Action

XRP price remained stable above the $2. 10 zone. The price is moving higher and might aim for a fresh surge above the $2. 30 resistance zone. XRP price is attempting a fresh increase above the $2. 20 resistance zone.