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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ripple’s (XRP) Could Surge Above $0.21 As Crucial Bullish Pattern Emerges

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Ripple’s (XRP)

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Ripple is still trading above the $0.1920 support zone against the US Dollar. XRP price seems to be following a bullish flag pattern and it could rally above $0.2100.

  • Ripple price is showing positive signs above the $0.1920 and $0.1900 support levels against the US dollar.
  • The price is trading near the $0.2000 resistance, but it is above the 100 simple moving average (4-hours).
  • There is a crucial bullish flag forming with resistance near $0.2000 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair is likely to start a fresh rally once it clears the $0.2000 and $0.2030 resistance levels.

Ripple Price Eyeing Upside Break

In the past few days, ripple’s XRP started a downside correction from the $0.2118 swing high. It corrected below the $0.2050 and $0.2020 support levels. The price even spiked below $0.1900, but downsides were limited.

During the decline, there was a break below the 50% Fib retracement level of the upward surge from the $0.1741 low to $0.2118 swing high. The bulls were able to save the $0.1890 support zone and the 100 simple moving average (4-hours).

Moreover, the 61.8% Fib retracement level of the upward surge from the $0.1741 low to $0.2118 swing high also acted as a strong. The price is now rising and it is trading above the $0.1920 level.

Ripple Price
Ripple Price
Ripple (XRP) price testing $0.2000. Source: TradingView.com

The current price action is positive and the price is trading above the 100 simple moving average (4-hours) ($0.1945). There is also a crucial bullish flag forming with resistance near $0.2000 on the 4-hours chart of the XRP/USD pair.

The pair must break the bullish flag resistance at $0.2000 to start a fresh increase. The next major resistance is near the $0.2030 level, above which there are chances of a steady rise towards the $0.2120 level.

Downside Break in XRP

Conversely, the price might correct lower towards the $0.1945 and $0.1920 support levels. The main support is near the $0.1900 level.

If there is a daily close below the $0.1900 support zone, the price could continue to move down towards the $0.1820 and $0.1800 support levels.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining strength in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards the 50 level.

Major Support Levels – $0.1945, $0.1920 and $0.1900.

Major Resistance Levels – $0.2000, $0.2030 and $0.2120.

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Risk disclaimer: 76.4% of retail CFD accounts lose money.

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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