Ripple (XRP) Showing Early Signs of Fresh Increase, But Bulls Facing Hurdles

2020-8-20 08:48

Ripple extended its decline and tested the $0.2800 support against the US Dollar. XRP price is likely to start a slow and steady rise as long as it is above the $0.2800 support.

Ripple failed to stay above the $0.2850 support and tested the $0.2800 region against the US dollar. The price traded to a new weekly high at $0.2790 level and it is now well above the 100 hourly SMA. There was a break above a key bearish trend line with resistance near $0.2900 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently struggling to gain bullish momentum above $0.2905 and $0.2920. Ripple Price Holding $0.2800

In the past three sessions, there were mostly bearish moves in ripple below $0.3000. XRP price even failed to stay above the $0.2850 support and it settled well below the 100 hourly simple moving average.

A new weekly low is formed near $0.2790 and the price is currently correcting higher. There was a break above the $0.2850 resistance. Moreover, there was a break above a key bearish trend line with resistance near $0.2900 on the hourly chart of the XRP/USD pair.

Ripple spiked above the 23.6% Fib retracement level of the recent decline from the $0.3274 high to $0.2790 low. However, the bulls seem to be struggling to gain strength above the $0.2905 and $0.2920 resistance levels.

Ripple price below $0.2920. Source: TradingView.com

If there is a clear break above the $0.2920 resistance, the price could rise towards the $0.3000 resistance. It seems like there is a major hurdle forming near the $0.3000 level and the 100 hourly SMA. The 50% Fib retracement level of the recent decline from the $0.3274 high to $0.2790 low is also near $0.3030.

A successful close above the $0.3000 and $0.3020 could open the doors for a fresh increase. In the mentioned case, the price could rise towards the $0.3120 and $0.3155 levels.

Key Uptrend Support for XRP

The main support is clearly near the $0.2800 region. If ripple fails to settle above $0.2920, there is a risk of a downside break below $0.2800.

A daily close below the $0.2800 support level is likely to open the doors for a larger decline. The next major supports could be $0.2650 and $0.2620.

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 just above the 40 level.

Major Support Levels – $0.2820, $0.2800 and $0.2750.

Major Resistance Levels – $0.2905, $0.2920 and $0.3000.

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Ripple (XRP) на Currencies.ru

$ 2.2399 (-0.15%)
Объем 24H $11.074b
Изменеия 24h: 1.30 %, 7d: -7.39 %
Cегодня L: $2.1858 - H: $2.2889
Капитализация $128.242b Rank 4
Цена в час новости $ 0.2899 (672.65%)

ripple support above 2800 xrp start slow

Источник: newsbtc.com

ripple support → Результатов: 126


Ripple [XRP]: Will Support Hold or Are We Heading Downward?

A look at the Weekly chart of Ripple in logarithmic form, shows us that price has fallen from the high of January 2018 of around $3.2 to close to $0.3. There is some support in the $0.3 area, and it is worth noting that there was a bounce with strong volume in September (yellow arrow), […] Ripple [XRP]: Will Support Hold or Are We Heading Downward? was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-12-15 16:19


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