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Breaking News: UNI Rallies 10% As BlackRock Brings Treasury‑Backed BUIDL Token To Uniswap

Ripple Price Technical Analysis – XRP/USD to Surge Above $0.2250?

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 gained a lot of bids recently and moved above the $0.2150 level against the US Dollar.
  • There was a clear break above a major bearish trend line with resistance at $0.2040 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price traded above the $0.2200 level and it might continue to move higher.

Ripple price is gaining a lot of momentum against the US Dollar and Bitcoin. XRP/USD might soon break $0.2250 for further gains.

Ripple Price Trend

It was a good start to a new uptrend in Ripple price above the $0.2050 level against the US Dollar. The price was able to gather strong bullish momentum and was able to move above $0.2100 resistance. There was a clear break above a major bearish trend line with resistance at $0.2040 on the hourly chart of the XRP/USD pair. The pair was also able to move above the last swing high of $0.2170 and even traded above $0.2200.

A high was formed recently at $0.2234 and the price is now consolidating in a range. On the downside, an initial support is around the 23.6% Fib retracement level of the last wave from the $0.1975 low to $0.2234 high. However, the most important support is currently at $0.2100. The mentioned level is also close to the 50% Fib retracement level of the last wave from the $0.1975 low to $0.2234 high.

Ripple Price Technical Analysis XRP USD

On the upside, the pair might soon break $0.2234 to test $0.2250. There are even chances of a break above $0.2250 for a push towards $0.2300. The overall trend is positive for XRP with chances of continuing gains above $0.2150.

Looking at the technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is well into the overbought levels.

Major Support Level – $0.2150

Major Resistance Level – $0.2250

 

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.

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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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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
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How Our News is Made

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