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Breaking News: Bitcoin Price To Recover $100,000: BTIG Cites Key Reasons For Optimism

Ripple (XRP) Bulls Back In The Driver’s Seat And Aim $0.22

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:47 pm
2 mins read
Ripple-XRP

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Ripple is showing positive signs above the key $0.1920 resistance area against the US Dollar. XRP price is likely to continue higher towards the $0.2050 and $0.2120 resistance levels.

  • Ripple price is gaining bullish momentum above the $0.1920 resistance against the US dollar.
  • The bulls are aiming a larger rally towards the $0.2120 and $0.2200 resistance levels.
  • There is a major bullish trend line forming with support near $0.1900 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair remains well supported if it corrects lower towards $0.1910 or $0.1900.

Ripple Price Eyeing More Upsides

In the past few sessions, ripple followed a bullish path above $0.1850, similar to bitcoin and ETH. XRP price gained bullish momentum and was able to clear the key $0.1900 and $0.1920 resistance levels.

There was a close above the $0.1900 pivot level and the 100 hourly simple moving average. It opened the doors for more gains and the price rallied towards the $0.2000 level.

A high is formed near $0.2000 and the price corrected lower. It traded below the $0.1950 level, plush the 23.6% Fib retracement level of the upward move from the $0.1857 low to $0.2000 high.

However, ripple remained well bid above the $0.1920 level. The 50% Fib retracement level of the upward move from the $0.1857 low to $0.2000 high also acted as a strong support. It seems like there is a major bullish trend line forming with support near $0.1900 on the hourly chart of the XRP/USD pair.

Ripple Price
Ripple Price

The pair is currently rising and approaching the $0.1965 resistance. The main resistance for the bulls is still near the $0.2000 level. If there is a successful close above the $0.2000 level, the price is likely to surge towards the $0.2050 and $0.2120 levels. Any further gains might call for a test of $0.2200.

Dips Supported

Ripple is clearly following a decent bullish path above the $0.1920 support. The main support is now near $0.1880 and the 100 hourly simple moving average.

If there is a bearish break below the $0.1880 support zone, the price is likely to resume its decline. The next key supports are near $0.1800 and $0.1780.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is about to gain pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well above the 50 level.

Major Support Levels – $0.1920, $0.1900 and $0.1880.

Major Resistance Levels – $0.1965, $0.2000 and $0.2050.

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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
The highest standards in reporting and publishing
How Our News is Made

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

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