Ripple has remained above $ 0.1900 and $ 0.1920 against the U.S. dollar. However, the XRP must overcome resistance levels of $ 0.2000 and $ 0.2050 to gain upside momentum anytime soon.
- The ripple rises slowly and trades above the level of $ 0.1950 against the US dollar.
- The price is currently facing a pair of key resistors close to $ 0.2000 and $ 0.2050.
- There has been a break above a key bearish trend line with resistance close to $ 0.1975 on the hourly chart of the XRP / USD pair (Kraken data source).
- The pair could gain bullish momentum if it clears the resistance levels of $ 0.2000 or $ 0.2050.
The price of waving faces obstacles
After testing the support area at $ 0.1850, the ripple started a decent rise above $ 0.1900. The price of XRP surpassed the resistance levels of $ 0.1900 and $ 0.1920 to enter a short-term bullish zone.
There was a sharp break above the Fibonacci retracement level of 23.6% from the key drop from the highest of $ 0.2250 to the lowest of $ 0.1850. Most importantly, there has been a break above a key bearish trend line with resistance close to $ 0.1975 per hour. graphic of the XRP / USD pair.
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Ripple prices
Ripple is now trading above the $ 0.1950 level, but faces a few key hurdles near $ 0.2000. Initial resistance is close to the simple moving average of 100 hours at $ 0.2010.
The first major resistance is close to the level of $ 0.2050. It represents 50% of the Fib retracement level from the key drop from the highest of $ 0.2250 to the lowest of $ 0.1850. If the XR price breaks the resistance zone of $ 0.2050, there is a good chance of a sustained bullish movement.
The next big resistance is close to the level of $ 0.2100, above which bulls should aim for a test of the levels of $ 0.2200 and $ 0.2220 in the short term.
Change of direction in XRP?
If the ripple fails to gain a bullish momentum above the resistance levels of $ 0.1960 and $ 0.2000, there are chances of a further decline. Initial support is seen near the $ 0.1950 level.
The first major support is close to the level of $ 0.1920, below which the price could be difficult to stay above $ 0.1900. In the case mentioned, there is a risk of further declines to the levels of $ 0.1850 and $ 0.1840.
Technical indicators
Hourly MACD: The MACD for XRP / USD slows in the bullish zone.
Hourly RSI (Relative Strength Index): The RSI for XRP / USD corrects to level 50.
Main support levels: $ 0.1920, $ 0.1900 and $ 0.1880.
Main resistance levels: $ 0.2000, $ 0.2040 and $ 0.2050.
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