Ripple traded higher and broke the resistance of $ 0.2000 after the bitcoin price rose against the US dollar. However, XRP still faces many hurdles near $ 0.2100 and $ 0.2200.
- Ripple traded higher and successfully eliminated the resistance levels of $ 0.1980 and $ 0.2000 against the US dollar.
- The price is currently facing a key resistance zone near the level of $ 0.2050.
- There has been a break above a major bearish trend line with resistance close to $ 0.1980 on the hourly chart of the XRP / USD pair (Kraken data source).
- The pair is expected to fight near resistance levels of $ 0.2050 or $ 0.2100.
The price of the ripple continues in a downtrend
Bitcoin recently gained momentum and surpassed $ 9,000, triggering an upward movement in the wave above $ 0.1950. The XRP price broke the resistance zone by $ 0.1980 to enter a positive zone in the short term.
The bulls pushed the price above the Fibonacci retracement level of 23.6% of the main decline, from the highest of $ 0.2250 to the lowest of $ 0.1849. There has also been a break above a major bearish trend line with resistance close to $ 0.1980 per hour. graphic
of the XRP / USD pair.
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Ripple prices
Ripple is now trading above the $ 0.2000 level and the 100-hour simple moving average. On the upside, initial resistance is approaching the level of $ 0.2050. It is close to 50% of the Fib retracement level of the main decline, from the highest of $ 0.2250 to the lowest of $ 0.1849.
The next major resistance is near the $ 0.2100 area (the last key breakout area. If the XRP gains a bullish momentum above the $ 0.2100 resistance, the bulls should target a test of the 0.22200 level. $ in the Short Term Any further gain could push the price into a strong uptrend and could reach $ 0.2280 and $ 0.2350.
Another decrease in XRP?
If the ripple cannot continue above the resistance levels of $ 0.2050 and $ 0.2100, there could be another drop. Initial support is close to the level of $ 0.2000.
The first major support is close to the 100 hour SMA at $ 0.1970, followed by the pivot level of $ 0.1950. If the price drops below the support of $ 0.1950, the declines should indicate a test of the lowest of $ 0.1850.
Technical indicators
Hourly MACD: The MACD for XRP / USD is losing momentum in the uptrend.
Hourly Relative Strength Index (RSI): The RSI for XRP / USD is currently well above the 50 level.
Main support levels: $ 0.2000, $ 0.1950 and $ 0.1920.
Main resistance levels: $ 0.2050, $ 0.2100 and $ 0.2200.
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