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Ripple Price Analysis: Bulls Aim More Upsides Above $0.20

  • Ripple price is currently trading in a positive zone above the $0.1880 support area against the US dollar.
  • The price is likely to resume its rise above the $0.1965 and $0.1985 resistance levels.
  • There was a break above a major declining channel with resistance near $0.1905 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair is consolidating in a range and likely setting up for a break above the $0.2000 resistance.

Ripple price is trading in a bullish zone above $0.1880 against the US Dollar. XRP price could continue to rise as long as it is above $0.1855 and $0.1815.

Ripple Price Analysis

This past week, ripple price started a decent increase above the $0.1850 and $0.1880 resistance levels against the US Dollar. The XRP/USD pair even surpassed the $0.1900 resistance level to move into a positive zone.

More importantly, there was a close above the $0.1880 pivot level and the 55 simple moving average (4-hours). There was also a break above a major declining channel with resistance near $0.1905 on the 4-hours chart of the XRP/USD pair.

The pair traded above $0.1955 and tested the $0.1965 resistance area. A high is formed near $0.1971 and the price is currently correcting lower.

It declined below the 23.6% Fib retracement level of the recent upward move from the $0.1737 low to $0.1971 high. However, the previous resistance near the $0.1880 level is acting as a strong support.

Besides, the 55 simple moving average (4-hours) is also near the $0.1880 level. If there are more losses, the next support is near the $0.1855 level. It is close to the 50% Fib retracement level of the recent upward move from the $0.1737 low to $0.1971 high.

Any further losses may perhaps lead the price towards the $0.1815 support area. On the upside, there are key hurdles near the $0.1965 and $0.1985 levels.

A successful close above the $0.1965 and $0.1985 resistance levels could open the doors for a larger rally. In the mentioned case, the price might surge towards the $0.2050 and $0.2065 resistance levels.

Ripple Price

Ripple Price

Looking at the chart, ripple price is showing a few bullish signs above the $0.1880 level. Therefore, there are high chances of more gains as long as the price is above the $0.1855 pivot level.

Technical indicators

4 hours MACD – The MACD for XRP/USD is gaining momentum in the bullish zone.

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

Key Support Levels – $0.1880, $0.1855 and $0.1815.

Key Resistance Levels – $0.1965 and $0.2000.

The post Ripple Price Analysis: Bulls Aim More Upsides Above $0.20 appeared first on Live Bitcoin News.

Source: Live Bitcoin News

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