- Ripple XRP Price Analysis – Bullish price momentum
- Ripple XRP Price currently approaching resistance
Ripple XRP price corrected lower abruptly from $0.2450, but it later found support close to $0.2200 against the US Dollar, also to BTC close to $8,500. Ripple XRP price is recovering, though, for a new XRP price rally to happen, Ripple XRP price must exceed the $0.2360.
Ripple XRP price is trading positively above the $0.2250 and $0.2280 support levels against the U.S dollar. The price of the coin is encountering resistance close to the $0.2350 and $0.2360 levels. There is a fresh developing triangle establishing with resistance close to $0.2360 on the hourly chart of the XRP/USD pair.
The XRP/USD pair must surge above $0.2360 to begin a new XRP price rally towards $0.2450 or $0.2500. XRP trading price is gradually approaching resistance. Recently, there was a downside correction in the price of XRP from the $0.2450 resistance level against the US Dollar. XRP price broke the $0.2350 and $0.2320 support levels and even quashed below $0.2300.
Also, the bulls were able to support the $0.2220 support level and the 100 hourly simple moving average. A low is established close to $0.2220 and the price recently began a moderate upward move. It recently broke the 23.6% Fib retracement level of the recent decline from the $0.2423 high to $0.2220 low. While on the upside, there are few major resistances close to the $0.2350 and $0.2360 levels.
Ripple XRP Price currently approaching resistance
Moreover, the 50% Fib retracement level of the recent decline from the $0.2423 high to $0.2220 low is close to $0.2322. Notably, there is a fresh contracting triangle establishing with resistance close to $0.2360 on the hourly chart of the XRP/USD pair.
Thus, the XRP price must exceed the $0.2350 and $0.2360 resistance levels to begin a new XRP price rally. The bulls are likely to target a test if the $0.2450 resistance if there is a positive close above $0.2360.
If XRP price is unable to surge above the $0.2350 and $0.2360 resistance level, it could continue its decline. Early support is close to the triangle lower trend line at $0.2280. The first major support is close to the $0.2250 level and the 100 hourly SMA. The major support for Ripple XRP price is close to the $0.2220 level, below which there is a possibility of an abrupt decline below $0.2200 in the short-term.
XRP (XRP) Price Today – XRP / USD
The next key support is at $0.2080. The MACD for XRP/USD is gradually gaining impetus in the bullish zone. The RSI for XRP/USD is currently increasing towards the 60 levels. The major support levels are $0.2350, $0.2360 and $0.2400. While the major resistance levels are $0.2280, $0.2250 and $0.2220.