Ripple price is consolidating above the $0.1850 and $0.1880 support levels against the US dollar.
XRP could start a larger rally if it clears the main $0.2000 resistance area.
There is a major breakout pattern forming with resistance near $0.1930 on the hourly chart of the XRP/USD pair (data source from Kraken).
Conversely, the pair might collapse if it breaks the $0.1850 support area.
Ripple price seems to be preparing for a larger breakout against the US Dollar, similar to bitcoin. XRP price must settle above $0.2000 to start a strong rally.
Ripple Price Analysis
In the past few days, ripple price made a couple of attempts to surpass the $0.2000 resistance against the US Dollar. However, XRP price failed to gain momentum above $0.1980 and declined recently.
Moreover, the price settled below the $0.1940 pivot level and the 100 hourly simple moving average. The last swing high was formed $0.1942 and the price is now trading with a bearish angle.
It is trading below the 23.6% Fib retracement level of the upward move from the $0.1881 low to $0.1942 high. On the downside, there are key supports forming near the $0.1900 and $0.1880 levels.
Besides, the 50% Fib retracement level of the upward move from the $0.1881 low to $0.1942 high is also near the $0.1910 level to provide support. Therefore, the bears need to push the price below the $0.1900 and $0.1880 levels to start a substantial decline.
The main support for ripple is near the $0.1850 level, below which there is a risk of a larger breakdown. In the mentioned bearish case, the price could accelerate towards the $0.1720 and $0.1650 support levels.
Conversely, the bulls could make another attempt to surpass the $0.1980 and $0.2000 resistance levels. If they succeed, the price will most likely start a larger rally above $0.2050.
In the bullish scenario, the price could surge towards the $0.2150 and $0.2200 resistance levels. More importantly, it bitcoin gains pace above $7,500 and Ethereum breaks $138, ripple might also gain a strong bullish momentum.
Ripple Price
Looking at the chart, ripple price seems to be confined in a range below the main $0.1980 and $0.2000 resistance levels. As long as there is no close below $0.1850, the price is likely to aim a crucial bullish break above the $0.2000 barrier in the coming days.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is currently gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 level, with a bearish angle.
Major Support Levels – $0.1900, $0.1880 and $0.1850.
Major Resistance Levels – $0.1940, $0.1900 and $0.2000. The post appeared first on NewsBTC. origin »
Ripple started a fresh increase above the $0. 4000 resistance against the US Dollar. XRP price is likely to accelerate further higher if it clears the $0. 4650 resistance. Ripple is up over 15% and it broke a major resistance near $0.
Key Highlights Ripple price traded further higher and almost tested the $0. 5250 resistance against the US dollar. There is a new bearish trend line in place with resistance at $0. 4850 on the hourly chart of the XRP/USD pair (data source from Kraken).
XRP/USD Medium-term Trend: Bullish Resistance Levels : $0. 50 , $0. 51, $ 0. 52 Support Levels: $0. 48, $0. 47, $0. 46 Yesterday, July 2, price of Ripple is in a sideways trend. Today, the cryptoasset is in a bullish movement.
Key Highlights Ripple price jumped higher and broke the $0. 4750 and $0. 5000 resistance levels against the US dollar. Yesterday’s highlighted short-term declining channel was breached with resistance at $0.
XRP/USD Medium-term Trend: Bearish Resistance Levels : $0. 46 , $0. 47, $ 0. 48 Support Levels: $0. 44, $0. 43, $0. 42 Last week the Ripple cryptoasset was in a bearish trend. The cryptoasset fell from the high of $0.
Key Highlights Ripple price recovered from the $0. 4248 low, but it failed to settle above $0. 4750 against the US dollar. There is a short-term declining channel in place with resistance at $0. 4650 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price failed to move above the $0. 4750 resistance and declined against the US dollar. There is a major bearish trend line in place with resistance near $0. 4600 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price traded close to the $0. 4750 resistance where it faced sellers against the US dollar. There is a short-term ascending channel in place with support at $0. 4620 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price failed to hold gains above the $0. 4700 support and declined against the US dollar. There is a new key bearish trend line formed with resistance near $0. 4600 on the hourly chart of the XRP/USD pair (data source from Kraken).
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).
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 formed a major low near the $0. 5100 level and bounced back against the US dollar. Yesterday’s important bearish trend line was broken with resistance near $0. 5200 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price declined from the $0. 5600 swing high with bearish moves against the US dollar. There is a key bearish trend line in place with resistance near $0. 5300 on the hourly chart of the XRP/USD pair (data source from Kraken).
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).
Key Highlights Ripple price failed to recover and extended its decline towards the $0. 50 level against the US dollar. There is a major bearish trend line forming with resistance near $0. 5300 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price came under a lot of pressure and declined below the $0. 5800 support area against the US dollar. There is a new connecting bearish trend line forming with resistance near $0.
It is a bearish Monday for the cryptocurrency market as the major cryptocurrencies are currently in the red. Bitcoin dipped to the $92k level, while XRP briefly retested the January 2nd low following an excellent start to the year.
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