HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Ripple (XRP) Above 100 SMA Signals Fresh Increase: The Big Picture

Altcoins 2020/09/18 09:48 by Aayush Jindal

Ripple is slowly moving into a positive zone above the $0.2480 support zone against the US Dollar. XRP price is likely to accelerate higher as long as it is above the 100 SMA (H4).

  • Ripple is trading in a positive zone above the $0.2480 support against the US dollar.
  • The price is facing hurdles near $0.2580 and it is well above the 100 simple moving average (4-hours).
  • There is a key expanding triangle forming with resistance near $0.2600 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair is likely to accelerate above the $0.2600 resistance and the $0.2620 pivot level.

Ripple Price Showing Positive Signs

In the past three sessions, there were positive moves in bitcoin, Ethereum, and ripple. XRP price formed a decent support base above the $0.2400 level and recently climbed above the $0.2450 resistance.

The price gained pace above the $0.2480 resistance level and settled above the 100 simple moving average (4-hours). There was a spike above the $0.2500 level and a new weekly high is formed near the $0.2580 level.

Ripple is currently consolidating gains and it corrected lower below the 23.6% Fib retracement level of the upward move from the $0.2372 low to $0.2580 high. On the downside, there is a strong support forming near the $0.2475 level and the 100 simple moving average (4-hours).

Ripple (XRP) Price

Ripple (XRP) price trades above $0.2500. Source: TradingView.com

It seems like there is a key expanding triangle forming with resistance near $0.2600 on the 4-hours chart of the XRP/USD pair. If the price stays above the 100 SMA, there are chances of an upside break above the $0.2580 and $0.2600 resistance levels.

A clear break above the channel resistance might open the doors for a larger upward move above the $0.2620 pivot level. The next major resistance is seen near the $0.2750 level.

Another Rejection in XRP?

If ripple fails to clear the $0.2580 and $0.2600 resistance levels, there is a risk of a fresh decline. An initial support is near the $0.2475 zone and the 100 SMA.

A downside break below the 100 SMA might put a lot of pressure on the bulls. The next main support is near the triangle trend line at $0.2420, below which the price could accelerate lower towards $0.2320.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is slowly gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is well above the 50 level.

Major Support Levels – $0.2480, $0.2450 and $0.2400.

Major Resistance Levels – $0.2580, $0.2600 and $0.2750.

0 Like(s)



You should also read...

Altcoins 01/04/20 06:18 by Aayush Jindal
Ripple (XRP) Showing Signs of Weakness But 100 SMA Can Trigger New Rally
Ripple is still struggling to surpass the $0.1780 resistance area against the US Dollar. XRP price is currently holding the 100 hourly SMA and it could rise again. Ripple price is still facing a stro...
Read More
Altcoins 04/12/20 08:28 by Aayush Jindal
Charted: Ripple (XRP) is Primed For a Rally And Only 1 Thing is Holding it Back
Ripple started a downside correction below $0.6500 against the US Dollar. XRP price is likely preparing for the next major move, similar to bitcoin and ETH. Ripple corrected lower, but it remained st...
Read More
Altcoins 08/12/20 08:48 by Aayush Jindal
Charted: Ripple (XRP) Signaling Next Crucial Break, $0.62 A Key Barrier
Ripple is trading in a contracting range above $0.6000 against the US Dollar. XRP price is setting up for a major break either above $0.6200 or below $0.5800. Ripple is showing a few positive signs a...
Read More
Altcoins 21/01/21 08:18 by Aayush Jindal
Charted: Ripple (XRP) Signaling Bullish Breakout, Why It Could Retest $0.35
Ripple is holding gains above $0.2800 against the US Dollar. XRP price is likely to accelerate higher towards $0.3500 once it clears the $0.3100 resistance zone. Ripple is showing a few positive sign...
Read More
Altcoins 21/04/21 09:08 by Aayush Jindal
Charted: Ripple (XRP) Could Rally Significantly If It Clears This Key Resistance
Ripple formed a support base above $1.16 and it is now rising against the US Dollar. XRP price could start a strong increase if it clears the main $1.50 resistance zone. Ripple is showing positive si...
Read More