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Breaking News: XRP Projected To Reach $8 By 2026: Standard Chartered Identifies Two Major Catalysts
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Breaking News: XRP Projected To Reach $8 By 2026: Standard Chartered Identifies Two Major Catalysts

Ripple (XRP) Topside Bias Vulnerable Unless It Surges Past $0.195

Aayush Jindal
Aayush Jindal
Last Updated: June 12, 2024 9:20 am
2 mins read
Ripple (XRP)

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Ripple is currently consolidating below the $0.1900 resistance against the US Dollar. XRP price must settle above $0.1950 and the 100 SMA (H4) to start a strong rally in the near term.

  • Ripple price is slowly moving higher after testing the $0.1850 support against the US dollar.
  • The price is still trading well below $0.1920 and the 100 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $0.1890 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair must surpass the $0.1920 and $0.1950 resistance levels to start a fresh increase.

Ripple Price Facing Uphill Task

This past week, ripple followed a bearish path below the $0.1950 pivot level. XRP price broke many important supports near the $0.1920 level to move into a bearish zone.

It tested the $0.1850 support and settled well below the 100 simple moving average (4-hours). It traded as low as $0.1848 and recently started an upside correction. There was a break above the $0.1880 resistance level.

The bulls even pushed the price above the 23.6% Fib retracement level of the downward move from the $0.1986 high to $0.1848 low. Moreover, there was a break above a major bearish trend line with resistance near $0.1890 on the 4-hours chart of the XRP/USD pair.

Ripple Price

Ripple price below $0.1900. Source: TradingView.com

Ripple price is currently consolidating above the broken trend line and below $0.1900. The first major resistance is near the $0.1920 level and the 100 simple moving average (4-hours). The 50% Fib retracement level of the downward move from the $0.1986 high to $0.1848 low is also near $0.1917.

The main breakout resistance is near the $0.1950 level. If there is a successful break above $0.1920 and $0.1950, the price could start a steady increase. The next key resistance is near $0.2000, followed by $0.2080.

Fresh Decline in XRP?

If ripple price fails to continue higher above $0.1920 or $0.1950, there are chances of a fresh decline. An initial support is near the $0.1880 level.

The first key support is near the $0.1850 level, below which the bulls might struggle to protect $0.1825. Any further losses could lead the price below $0.1800 in the near term.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is struggling to gain momentum in the bullish zone.

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

Major Support Levels – $0.1850, $0.1825 and $0.1800.

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

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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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