Ripple coin with over $0.1950 upside against the US Dollar is proving very stable on the exchange. Besides, the price of XRP is likely to break through the $0.2000 and $0.2020 resistance levels.
- Ripple price is showing signs of a stronger increase of $0.2000 against the US dollar.
- Critical support appears around $0.1920.
- Support near $0.1955 on the hourly chart of the XRP/USD pair (data from Kraken) sparks a new trend.
- The virtual currency pair, while still trading above the $0.1920 axis, is likely to continue to rise above $0.2000*
The value of Ripple is still growing
After forming a strong support wave above $0.1900 and $0.1920, Ripple has entered a new ascending sequence. XRP price moved further into the positive after breaking the key resistance near the $0.1950 level.
There was also a breakout of the weekly resistance at $0.1980. Ripple succeeds in entering a positive above average after mere 100 hour movements, similar to Bitcoin and Ethereum.
New weekly high is formed near $0.1997, and is consolidating gains. This value demonstrates the 23.6% Fibonacci retracement level of the recent rise from the $0.1922 low to $0.997 high.
The first major support is near $0.1965 (the recent breakout), followed by near $0.1955. Besides, another trend emerges after the support near $0.1955 on the hourly chart of the XRP/USD pair.
The trend is slowly approaching the 50% Fibonacci retracement level of the recent rise from the $0.1922 low to $0.997 high. On the other hand, immediate resistance to strong rallies is near the $0.2000 level.
A successful breakout and close follow of the upper limit of $0.2000 would be the impetus for a strong rally. The next immediate resistance is near the $0.2050 level, whereby a rally to the $0.2220 level is possible.
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Bottom limit
Ripple received timely support to fix the defects, starting at $0.1965 and $0.1950. The 100 hourly average of normal movements to around $0.1945 is also a big support.
The major support is currently near $0.1920, below which there is a risk of a serious decline towards the $0.1880 and $0.125 levels in the near term.
Technical indicators
- Hourly MACD (Moving Average Convergence Divergence) - The indicator reflects that the value of the XRP/USD pair is gradually regaining momentum in the bullish zone.
- Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently above the 55 level.
- Key Support Levels - $0.1965, $0.1955 and $0.1920.
- Major Resistances – $0.2000, $0.2020 and $0.2050.
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