• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

Bitcoin Touched $12K While Ripple Price (XRP) Is Still Consolidating

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
Ripple Price Technical Analysis XRP USD
Advertisement
  • Ripple price remained in broad range and recently tested the $0.4070 level against the US dollar.
  • The price is currently trading above the $0.4000 support, but it is facing many hurdles on the upside.
  • There is a connecting bullish trend line forming with support at $0.4008 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price could either break $0.4075 and climb higher or decline again below $0.4000.

Ripple price is still consolidating in a broad range against the US Dollar, while bitcoin climbed towards $12,000. XRP price must break $0.4075 and $0.4140 to continue higher.

Ripple Price Analysis

In the past few sessions, there was strong rise in bitcoin price above $11,500, but ripple price remained in a range against the US Dollar. The XRP/USD pair started a slow and steady rise from the $0.3814 swing low. It broke the $0.3920 and $0.4000 resistance levels. There was also a break above the $0.4050 level and the 100 hourly simple moving average. However, the price struggled to clear the $0.4070 resistance.

It corrected lower below $0.4050 plus the 23.6% Fib retracement level of the upward move from the $0.3814 low to $0.4068 high. However, the $0.3960 level acted as a support and the price climbed back above the 100 hourly SMA. Moreover, it stayed above the 50% Fib retracement level of the upward move from the $0.3814 low to $0.4068 high.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

There is also a connecting bullish trend line forming with support at $0.4008 on the hourly chart of the XRP/USD pair. If there is a downside break below the trend line and the 100 hourly SMA, ripple price could accelerate losses below $0.3950. The next major support is near the $0.3850 level, below which there is a risk of more losses towards the $0.3750 level.

On the upside, an immediate resistance is near the $0.4070 level. If there is an upside break above $0.4070, the price could rise towards the next major resistance near $0.4140. Any further gains is likely to push the price towards the $0.4200 and $0.4220 resistance levels.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is clearly trading in a broad range and seems to be preparing for the next break either above $0.4070 or below $0.4000. If it fails to continue higher, there are chances of sharp declines below $0.3950 and $0.3900. Conversely, a close above $0.4100 might improve the market sentiment.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is slowly gaining pace in the bullish zone.

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

Major Support Levels – $0.4000, $0.3920 and $0.3850.

Major Resistance Levels – $0.4070, $0.4140 and $0.4200.

Tags: Ripplexrp
TweetShare49
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Ethereum

TA: Ethereum Struggles Above $1,600, Why 100 SMA Is The Key

12 hours ago
Bitcoin

TA: Bitcoin Turns Attractive Above $50K, Why BTC Could Rally To $55K

14 hours ago
bitcoin thin ice

Time To Be Careful: Why Traders Are Cautious On Bitcoin Right Now

22 hours ago
Polkadot (DOT)

Charted: Polkadot (DOT) Steadies Above $35, Why Bulls Aim $40 or Higher

1 day ago
Ethereum

TA: Ethereum Lacks Momentum Above $1,550, Why Dips Likely To Be Limited

2 days ago
Bitcoin

TA: Bitcoin Holding Gains, Why BTC Could Surge Above $50K

2 days ago

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.