HOME CATEGORIES WRITE AND EARN πŸ”
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Ripple (XRP) Remains Primed For Gains Until It Breaks $0.20

Altcoins 2020/05/05 07:58 by Aayush Jindal
Ripple retested the $0.2080 support level against the US Dollar. XRP price is currently rising and it is likely to gain bullish momentum towards $0.2350 unless it breaks the $0.2000 support. Ripple price is trading in a positive zone above the $0.2120 and $0.2080 supports against the US dollar. The bulls are currently attempting an upside break above $0.2200 and 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $0.2200 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to start a strong upward move if it settles above $0.2200 and $0.2220. Ripple Price Eyeing Upside Break After forming a short term top near $0.2270, ripple started a fresh decline (similar to bitcoin and Ethereum). XRP price broke the $0.2200 support area and the 100 hourly simple moving average, but it found support near the $0.2080 zone. A new weekly low is formed at $0.2075 and the price is currently recovering. It is trading above the $0.2120 and $0.2150 resistance levels. The bulls also pushed the price above the 50% Fib retracement level of the recent decline from the $0.2270 high to $0.2075 low. However, ripple is currently facing a strong resistance near the $0.2200 region. There is also a major bearish trend line forming with resistance near $0.2200 on the hourly chart of the XRP/USD pair. Ripple Price The trend line coincides with the 61.8% Fib retracement level of the recent decline from the $0.2270 high to $0.2075 low. If there is a clear break above the trend line resistance and $0.2200, the price is likely to continue higher. An immediate resistance is near the $0.2220 level, above which the bulls are likely to aim a test of the main $0.2350 resistance. Any further gains could lead the price towards the $0.2500 hurdle. Bearish Reaction? If ripple struggles to clear the $0.2200 resistance, there is a risk of another bearish reaction. An initial support is near the $0.2150 level, followed by $0.2120. The main support is near the $0.2080 region, below which the bears are likely to aim the key uptrend support at $0.2000. A successful close below $0.2000 may possibly open the doors for a larger decline in the coming days. Technical Indicators Hourly MACD – The MACD for XRP/USD is losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently rising and it is above the 50 level. Major Support Levels – $0.2150, $0.2120 and $0.2080. Major Resistance Levels – $0.2200, $0.2220 and $0.2350. Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.

0 Like(s)



You should also read...

Altcoins 19/02/20 05:28 by Aayush Jindal
Ripple (XRP) Recovery Facing Key Hurdles: Can Bulls Outsmart Bears?
Ripple started an upside above the $0.2850 resistance area against the US Dollar. However, XRP price is still facing a couple of key hurdles near $0.3000 and $0.3080. Ripple price is currently correc...
Read More
Altcoins 29/06/20 07:28 by Aayush Jindal
This Confluence Of Bearish Factors Shows Ripple (XRP) Could Dive Again
Ripple started an upside correction after trading as low as $0.1690 against the US Dollar. XRP price is currently facing a strong resistance at $0.1800 and it could resume its decline. Ripple correct...
Read More
Altcoins 26/08/20 08:48 by Aayush Jindal
Ripple (XRP) is Plunging, But It’s Too Early to Say Bulls Have Given Up
Ripple is declining and it broke the $0.2800 support zone against the US Dollar. XRP price is currently correcting higher, but upsides are likely to remain capped near $0.2810. Ripple is slowly movin...
Read More
Altcoins 11/12/20 08:28 by Aayush Jindal
Charted: Ripple (XRP) Signaling Bearish Continuation Below $0.55
Ripple is struggling to clear the $0.5800 resistance against the US Dollar. XRP price is showing bearish signs and it could accelerate lower below $0.5420. Ripple topped just above the $0.6000 level ...
Read More
Altcoins 26/01/21 06:18 by Aayush Jindal
TA: Ethereum Trims Gains, Why ETH Could Find Strong Support Near $1,275
Ethereum started a downside correction after trading to a new all-time high at $1,480 against the US Dollar. ETH price is currently approaching the $1,300 and $1,275 support levels. Ethereum started ...
Read More