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Breaking News: Ripple Throws Weight Behind Hyperliquid, Fueling HYPE’s Rally Toward Crucial Levels
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Breaking News: Ripple Throws Weight Behind Hyperliquid, Fueling HYPE’s Rally Toward Crucial Levels

Ripple Price Technical Analysis – XRP/USD Breaks Key Hurdle

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:19 pm
2 mins read
Ripple analysis

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Key Highlights

  • Ripple price is gaining pace and it recently moved above the $0.2050 resistance against the US Dollar.
  • Yesterday’s highlighted new bearish trend line with resistance at $0.2038 was broken on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price might continue to trade higher towards $0.2100 and $0.2150 in the near term.

Ripple price is slowly moving higher against the US Dollar and Bitcoin. XRP/USD broke $0.2050 and is currently looking to extend gains.

Ripple Price Support

We recently saw the start of range trading below the $0.2050 resistance in Ripple price against the US Dollar. The price remained above the $0.1960 support and later succeeded in gaining pace. It traded higher and broke the $0.2000 and $0.2025 resistance levels. The best part was a close above the 23.6% Fib retracement level of the last drop from the $0.2175 high to $0.1970 low.

Buyers also succeeded in clearing strong offers near $0.2050 and the 100 hourly simple moving average. Moreover, yesterday’s highlighted new bearish trend line with resistance at $0.2038 was broken on the hourly chart of the XRP/USD pair. The pair is currently moving higher and will most likely test the 50% Fib retracement level of the last drop from the $0.2175 high to $0.1970 low. Buyers are currently gaining momentum and if they remain in control, the price could even test the $0.2150 level.

Ripple Price Technical Analysis XRP USD

An intermediate resistance is near $0.2100. On the downside, the 100 hourly SMA at $0.2030 is a decent support and a buy zone. Should, there be a break below $0.2030, the price might retest $0.2000. Overall, XRP is back in the positive zone and eyeing $0.2100 and $0.2150 in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is back in the bullish zone.

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

Major Support Level – $0.2030

Major Resistance Level – $0.2150

 

Charts courtesy – Trading View, Kraken

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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.

Read more

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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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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