- Ripple set for a major Bullish break
- $0.2120 lurks around the corner
Ripple Price Analysis – Ripple’s XRP against the U.S dollar is trading higher above $0.1950. The price might soar above $0.2000 and $0.2100 soon. The price of the token against the U.S dollar is displaying progressive signs above the $0.1920 resistance.
There is an imminent channel establishing with the support level close to $0.1940 on the hourly chart of the XRP/USD pair. There are high possibilities of a major upside break above the $0.2000 resistance area.
Recently, there were major surges in the price of BTC and ETH above $7,500 and $135 against the U.S dollar. This influenced a bullish trend in the price XRP above the $0.1900 resistance area. Also, there was a break above $0.1940 and the 100 hourly simple moving average. XRP price exceeded the 756.4% Fib retracement level of the downward trend from the $0.1974 high to $0.1937 low.
XRP (XRP) Price Today – XRP / USD
The price may likely exceed the $0.1974 swing high in the near term. The next major resistance is close to the $0.1985 level. It matches with the 1.236 Fib extension level of the downward move from the $0.1974 high to $0.1937 low. There are high chances of an upside break above the major $0.2000 resistance level in the near term. The subsequent aim for the bulls above $0.2000 might fall on $0.2120 since it signifies a key pivot zone. Any additional surges may push the price towards the $0.2250 resistance area in the days to come.
$0.2120 Lurks Around the Corner
If XRP fails to exceed the $0.2000 resistance area, there could be another downside correction looming. Early support is close to the $0.1950 level. Although, the major support is close to the $0.1940 level.
Also, there is a major increasing line forming with support close to $0.1940 on the hourly chart of the XRP/USD pair. If a downside break beneath the $0.1940 support occurs, the current bullish move is likely to reverse in the short term.
Going by the XRP price chart, XRP is obviously trading with a progressive trend above the $0.1920 and $0.1940 support levels. If the bull’s action persists above the $0.1980, the price might surge above the $0.2000 and $0.2050.
The MACD for XRP/USD pair is gradually moving into the bullish zone. The RSI for XRP/USD pair is currently above the 50 levels. The Major Support Levels are $0.1950, $0.1940 and $0.1900. While the Major Resistance Levels are $0.1985, $0.2000 and $0.2050.