Ripple Traded Higher And It Broke The $0.2000 Resistance

Ripple Traded Higher And It Broke The $0.2000 Resistance

Ripple Traded Higher And It Broke The $0.2000 Resistance

Recently, bitcoin gained bullish momentum and climbed sharply above $9,000, sparking an upward move in ripple above $0.1950. XRP price broke the $0.1980 resistance zone to move into a short term positive zone.

The bulls pushed the price above the 23.6% Fib retracement level of the main decline from the $0.2250 high to $0.1849 swing low. There was also a break above a major bearish trend line with resistance near $0.1980 on the hourly chart of the XRP/USD pair.

Ripple is now trading above the $0.2000 level and the 100 hourly simple moving average. On the upside, an initial resistance is near the $0.2050 level. It is near the 50% Fib retracement level of the main decline from the $0.2250 high to $0.1849 swing low.

The next major resistance is near the $0.2100 zone (the last key breakdown zone. If XRP gains bullish momentum above the $0.2100 resistance, the bulls are likely to aim a test of the $0.2200 level in the near term. Any further gains might push the price into a strong uptrend and it could surge towards $0.2280 and $0.2350.

If ripple fails to continue above the $0.2050 and $0.2100 resistance levels, there might be another decline. An initial support is near the $0.2000 level.

The first major support is near the 100 hourly SMA at $0.1970, followed by the $0.1950 pivot level. In case the price declines below the $0.1950 support, the bears are likely to aim a test of the $0.1850 low.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is currently losing momentum in the bullish zone.

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

Major Support Levels – $0.2000, $0.1950 and $0.1920.

Major Resistance Levels – $0.2050, $0.2100 and $0.2200.

Ripple Traded Higher And It Broke The $0.2000 Resistance – Source: NewsBTC.com
Read More Hot News With Cryptokiemtien

Good luck,

Latest Articles

Categories

0 Comments
Inline Feedbacks
View all comments