This Confluence Of Bullish Factors Shows Ripple (XRP) Could Rally To $0.212

2020-7-9 10:48

Ripple is up more than 5% and it settled nicely above the $0.2000 pivot level against the US Dollar. XRP price is currently rising and it could continue to rise towards $0.2120.

Ripple is slowly gaining bullish momentum above the $0.2000 resistance against the US dollar. The price is trading in a positive zone above $0.2020 and the 100 hourly SMA. There is a rising channel forming with resistance near $0.2065 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another rally if there is a successful close above the $0.2065 resistance. Ripple Price Could Extend Rally Above $0.2100

After consolidating above the $0.1820 support for a few sessions, ripple started a strong rally. XRP price broke many resistances near $0.1920 and $0.1950 to move into a positive zone.

There was also a close above the main $0.2000 resistance. The price traded to a new monthly high at $0.2064 and it is currently trading well above the 100 hourly simple moving average. Recently, there was a downside correction, but the bulls protected the $0.2000 support area.

The recent swing low was near $0.1978 and high at $0.2064. An initial support is near the $0.2020 level. It is close to the 50% Fib retracement level of the upward move from the $0.1978 swing low to $0.2064 high.

XRP price settles above $0.2000. Source: TradingView.com

It seems like there is a rising channel forming with resistance near $0.2065 on the hourly chart of the XRP/USD pair. If there is an upside break above the $0.2065 resistance zone, the price could continue to rise. The next key resistance is near $0.2100, followed by the $0.2120 barrier.

Any further gains above $0.2120 could open the doors for a larger upward move above the $0.2150 and $0.2185 levels in the coming sessions.

Dips Supported in XRP

If ripple price starts a downside correction below $0.2020, it could find support near the $0.2000 level and the channel lower trend line.

A successful daily close below the $0.2000 support level might clear the path for a large degree correction. The next major support is near the $0.1890 level and the 100 hourly SMA.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is about to move into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is rising and it is above the 60 level.

Major Support Levels – $0.2020, $0.2000 and $0.1980.

Major Resistance Levels – $0.2065, $0.2120 and $0.2150.

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Ripple (XRP) на Currencies.ru

$ 0.5111 (-0.51%)
Объем 24H $801.775m
Изменеия 24h: -1.71 %, 7d: 1.19 %
Cегодня L: $0.5077 - H: $0.5177
Капитализация $28.257b Rank 7
Цена в час новости $ 0.2041 (150.42%)

ripple could xrp above bullish against price

Источник: newsbtc.com

ripple could → Результатов: 126


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