Ripple (XRP) Price Trading Near Crucial Juncture, Can Bulls Make It?

2019-11-20 07:28

Ripple price is currently correcting higher and is trading above $0.2520 against the US dollar. The price seems to be approaching a major resistance area near the $0.2600 level. This week’s crucial bearish trend line is intact with resistance near $0.2600 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is also correcting higher, but it is likely to face resistance near $180.

Ripple price is gaining bullish momentum against the US Dollar and bitcoin. However, XRP price must break the $0.2600 resistance to move into a positive zone.

Ripple Price Analysis

This week, we saw a sharp decline in ripple below the $0.2500 support area against the US Dollar. Moreover, XRP/USD broke the $0.2450 support area and settled well below the 100 hourly simple moving average.

Finally, the price tested the $0.2400 support area and recently started an upside correction. It broke the $0.2450 and $0.2480 levels to start the current correction wave. Besides, there was a break above a connecting bearish trend line with resistance near $0.2500 on the hourly chart of the XRP/USD pair.

Ripple is now trading above the 50% Fib retracement level of the downward move from the $0.2660 high to $0.2400 swing low. On the upside, there is a strong resistance near the $0.2580 level and the 100 hourly simple moving average.

Additionally, the 61.8% Fib retracement level of the downward move from the $0.2660 high to $0.2400 swing low seems to be preventing gains. The main resistance on the upside is near the $0.2600 level.

More importantly, this week’s crucial bearish trend line is intact with resistance near $0.2600 on the same chart. Therefore, a clear break above the $0.2580 and $0.2600 resistance levels might push the price back into a bullish zone.

In the mentioned bullish scenario, the price is likely to rise towards the $0.2720 and $0.2750 resistance levels. Conversely, the price may perhaps struggle to break the $0.2600 resistance and it could start a fresh decline.

An initial support is near the $0.2520 level, followed by $0.2500. Any further losses might lead the price back towards the $0.2400 support area in the near term.

Ripple Price

Looking at the chart, ripple price is nicely correcting above the $0.2520 resistance. Having said that, the bulls are clearly facing an uphill task near the $0.2580 and $0.2600 resistance levels. If they fail to gain momentum above $0.2600, the price could resume its decline.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards 55 or 50.

Major Support Levels – $0.2520, $0.2450 and $0.2400.

Major Resistance Levels – $0.2580, $0.2600 and $0.2685.

The post Ripple (XRP) Price Trading Near Crucial Juncture, Can Bulls Make It? appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 1.1205 (-0.68%)
Объем 24H $6.988b
Изменеия 24h: 1.12 %, 7d: 57.73 %
Cегодня L: $1.0851 - H: $1.132
Капитализация $63.789b Rank 6
Цена в час новости $ 0.2687 (317.01%)

near price ripple trading xrp crucial 2600

Источник: newsbtc.com

near price → Результатов: 126


Here’s Why AI Crypto Near Protocol (NEAR) Price Is Up This Week

The decentralized application platform NEAR Protocol (NEAR) has experienced a significant price rally over the past seven days, with its native cryptocurrency rising by an impressive 35%. This surge comes as the project continues to garner attention for its innovative approach to improving the user experience and scalability of blockchain technology.

2024-4-25 00:20


Ether Price Analysis: Historic Support Tested Amid Signs of Distribution

It’s been weeks since ether has seen a new high or a new low and the market has found itself range-bound. At the moment, we are seeing signs of distribution as large rounds of selling have remained present during key support tests:Figure 1: ETHUSD, 4 Hour Candles, Trading RangeSo far, for the last few weeks, ether has seen a trend of higher lows and low highs (the converging red trendlines).

2018-10-20 01:31


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

XRP достиг $1 раньше Dogecoin и Cardano

XRP ошеломил крипторынок, превысив $1, опередив Cardano (ADA) и Dogecoin (DOGE). До этого скачка криптосообщество было вовлечено в дебаты о том, какие активы среди XRP, ADA и DOGE первыми достигнут отметки $1.

XRP Crosses $1: What’s Next?

XRP has surged past the $1 threshold for the first time since December 2021. This breakthrough comes as investors closely watch the token’s trajectory, buoyed by significant legal victories and shifting regulatory sentiments.

XRP breaks $1, hits 3 year high as open interest goes above $2 billion

Ripple’s XRP has reached a three-year high, surpassing $1 as open interest in the digital asset hit an all-time peak of over $2 billion. Over the weekend, XRP briefly touched $1. 19, its highest level since 2021, before settling around $110, according to CryptoSlate’s data.

XRP price surged to $1: will Stellar Lumens XLM be next?

Ripple’s price has gone parabolic, rising for three consecutive weeks as investors respond positively to Donald Trump’s election and its potential impact on the cryptocurrency market. Ripple (XRP) token crossed the important resistance at $1 for the first time since…