• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Ripple

Ripple (XRP) Is Primed For Another Rally And Only 1 Thing Is Holding It Back

Aayush Jindal by Aayush Jindal
12 months ago
in Ripple, Technical analysis
Reading Time: 2min read
Ripple XRP
Advertisement
Nexo Logo
Listen to Article

Ripple surged higher recently above the $0.2650 and $0.2720 resistances against the US Dollar. XRP price remains well supported and it could soon rally to $0.3000 if it breaks $0.2810.

  • Ripple price rallied to a new 2020 high at $0.2811 and it is consolidating gains against the US dollar.
  • The price remains well supported on the downside near the $0.2730 and $0.2700 levels.
  • There is a key contracting triangle forming with resistance near $0.2788 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is likely to start a sharp rally towards $0.3000 once it breaks the $0.2810 resistance area.

Ripple Price Rally Could Gain Pace

In the past few sessions, there were strong gains in ripple above the $0.2650 resistance. XRP price even broke the $0.2720 and $0.2750 resistance levels.

Finally, there was a break above the $0.2800 level and the price settled nicely above the 100 hourly simple moving average. A new 2020 high is formed near $0.2811 and the price is currently consolidating gains.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

There was a break below the 23.6% Fib retracement level of the recent wave from the $0.2617 low to $0.2811 high. However, the price is finding strong bids above the $0.2720 and $0.2710 levels.

Moreover, there is a key contracting triangle forming with resistance near $0.2788 on the hourly chart of the XRP/USD pair. If the price continues to consolidate, there are high chances of an upside break above the triangle resistance and $0.2800.

Ripple Price
Ripple Price

Ripple bulls need to gain pace above the $0.2810 resistance area to set the pace for a larger rally. In the mentioned case, the price is likely to surge towards the $0.2880 and $0.2920 levels. The next major hurdle for the bulls is near the $0.3000 handle.

Bulls Remain in Action

On the downside, there are many supports near the $0.2700 area. Besides, the 50% Fib retracement level of the recent wave from the $0.2617 low to $0.2811 high is at $0.2714.

Any further losses may perhaps push the price towards the $0.2695 support area. If ripple fails to stay above the $0.2695 support, it could extend its decline below $0.2680. In the mentioned case, the price might continue to decline towards the $0.2600 area or the 100 hourly SMA.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is likely to move back into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently rising and it could soon clear the 60 level.

Major Support Levels – $0.2715, $0.2695 and $0.2620.

Major Resistance Levels – $0.2800, $0.2810 and $0.2880.

Tags: Ripplexrp
TweetShare44
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
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.

Related Posts

Why This Analyst Expects Bitcoin Price Consolidation After the Recent 15% Drop

9 hours ago
bitcoin altcoins caution

Proper Altcoin Season While Bitcoin Drops Has Traders “Cautious”

13 hours ago
XRP Likely to Plunge towards $0.20 as SEC Woes Rattle Investors

Bitcoin’s Bear Case Suggests Move to $28,000 is a Possibility in the Near-Term

17 hours ago
bitcoin bubble crypto google search altcoin

Could Mt Gox Be The End Of Yet Another Epic Bitcoin Rally?

18 hours ago
Chainlink (LINK)

Charted: Chainlink (LINK) Revisits $18, Why It Could Soon Break $20

1 day ago
Ethereum

TA: Ethereum Struggles Near $1,250: Why ETH Remains Attractive On Dips

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

SV-based Taraxa Revolutionizes Legacy Data Auditing With Mathematically Provable Audit Trails

January 15, 2021

Kickoff Your DeFi Journey With YOYO FINANCE – Their Token Sale Is Live

January 14, 2021

RAI Finance Pre-sale Finishes in 1 Minute

January 13, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.