Ripple (XRP) Topside Bias Vulnerable Unless It Surges Past $0.195

Aayush Jindal

1 year ago

2 mins read

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Ripple is currently consolidating below the $0.1900 resistance against the US Dollar. XRP price must settle above $0.1950 and the 100 SMA (H4) to start a strong rally in the near term.

Ripple price is slowly moving higher after testing the $0.1850 support against the US dollar.
The price is still trading well below $0.1920 and the 100 simple moving average (4-hours).
There was a break above a major bearish trend line with resistance near $0.1890 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
The pair must surpass the $0.1920 and $0.1950 resistance levels to start a fresh increase.

Ripple Price Facing Uphill Task

This past week, ripple followed a bearish path below the $0.1950 pivot level. XRP price broke many important supports near the $0.1920 level to move into a bearish zone.

It tested the $0.1850 support and settled well below the 100 simple moving average (4-hours). It traded as low as $0.1848 and recently started an upside correction. There was a break above the $0.1880 resistance level.

The bulls even pushed the price above the 23.6% Fib retracement level of the downward move from the $0.1986 high to $0.1848 low. Moreover, there was a break above a major bearish trend line with resistance near $0.1890 on the 4-hours chart of the XRP/USD pair.

Ripple price below $0.1900. Source: TradingView.com

Ripple price is currently consolidating above the broken trend line and below $0.1900. The first major resistance is near the $0.1920 level and the 100 simple moving average (4-hours). The 50% Fib retracement level of the downward move from the $0.1986 high to $0.1848 low is also near $0.1917.

The main breakout resistance is near the $0.1950 level. If there is a successful break above $0.1920 and $0.1950, the price could start a steady increase. The next key resistance is near $0.2000, followed by $0.2080.

Fresh Decline in XRP?

If ripple price fails to continue higher above $0.1920 or $0.1950, there are chances of a fresh decline. An initial support is near the $0.1880 level.

The first key support is near the $0.1850 level, below which the bulls might struggle to protect $0.1825. Any further losses could lead the price below $0.1800 in the near term.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is struggling to gain momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently well above the 50 level.

Major Support Levels – $0.1850, $0.1825 and $0.1800.

Major Resistance Levels – $0.1920, $0.1950 and $0.2000.

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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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