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Home Cryptocurrency news Ripple

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

Aayush Jindal by Aayush Jindal
9 months ago
in Ripple, Technical analysis
Reading Time: 2min 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.

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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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Risk disclaimer: 76.4% of retail CFD accounts lose money.

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Tags: Ripplexrp
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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.

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