Ripple (XRP) Just Reversed and $0.25 Is Imminent, Here’s Why

2020-1-21 07:14

Ripple tested the key $0.2240 support area and recovered against the US Dollar, similar to bitcoin. XRP price is showing positive signs and it could rally to $0.2550 if it breaks $0.2420. Ripple price is recovering nicely from the $0.2240 support area against the US dollar. A key inverse head and shoulders is likely forming with support near $0.2320. There is a major bearish trend line forming with resistance near $0.2415 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another rally towards $0.2550 if it clears the $0.2420 resistance. Ripple Price Eyeing Bullish Break Recently, we saw a downside extension in ripple below the $0.2320 support area against the US Dollar. XRP price declined below the $0.2280 support and settled below the 100 hourly simple moving average. Finally, the price tested the $0.2240 support area, where the bulls emerged. A swing low was formed near $0.2236 and the price started a strong recovery. It broke the $0.2300 resistance area and the 100 hourly SMA. Besides, there was a break above the 23.6% Fib retracement level of the recent drop from the $0.2540 high to $0.2236 low. More importantly, there is a key inverse head and shoulders likely forming with support near $0.2320. Ripple already surpassed the neckline resistance near the $0.2350 resistance area. However, there is a major bearish trend line forming with resistance near $0.2415 on the hourly chart of the XRP/USD pair. Ripple Price The 50% Fib retracement level of the recent drop from the $0.2540 high to $0.2236 low is also near $0.2388. Therefore, a clear break above the $0.2420 resistance area could start a strong rise. The next major resistance is near the $0.2500 area, above which ripple could even attempt a break above the $0.2540 high in the coming sessions. Any further gains could lead the price towards $0.2620. Here Is A Bearish Case For XRP As mentioned XRP needs to surpass the $0.2420 resistance to continue higher. If it fails to clear $0.2420, there are chances of a fresh decline below the $0.2350 level in the near term. The first major support is near the $0.2300 level, below which ripple may perhaps decline towards the key $0.2240 support area in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is slowly gaining strength in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is rising and it is now well above the 50 level. Major Support Levels – $0.2350, $0.2300 and $0.2240. Major Resistance Levels – $0.2415, $0.2420 and $0.2500. The post appeared first on NewsBTC.

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Ripple (XRP) на Currencies.ru

$ 0.538 (+0.15%)
Объем 24H $1.67b
Изменеия 24h: 4.76 %, 7d: 6.31 %
Cегодня L: $0.5299 - H: $0.5414
Капитализация $29.744b Rank 7
Цена в час новости $ 0.2687 (100.22%)

ripple price xrp signs positive bitcoin could

Источник: newsbtc.com

ripple price → Результатов: 126


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