Ripple News Today – Ripple XRP Might Be Preparing For A Major Surge as New Trendline Appears on the Charts – June 8th, 2020 

XRP2
  • Ripple Starts Consolidating Above $0.2000 Level As Analysts Predict Higher Highs
  • Crossing the Strong Resistance at $0.2100 Will Lead to Major Price Recovery for XRP

Ripple News Today – For the last 2 weeks, Ripple XRP has been struggling against the USD. However, it has managed to stay afloat above the key support at $0.2000. If the token continues to hold the line, it will eventually gather enough momentum to test the $0.21 level and this will lead to higher highs near-term. When the price of Ripple XRP moves above this level, it is also going to be above the 100-day simple moving average. After crossing the resistance at $0.2100, the next resistance levels for XRP will be at $0.24. The token started consolidating this morning and it’s most likely going to continue in this direction for the rest of the day.

Ripple News Today – Ripple XRP Consolidates Above the $0.2000 Level

The Ripple XRP price is still on a bearish path and things will remain that way as long as it remains below the $0.2100 pivot level. This morning, the token broke the support at $0.2020 but it was able to hold the line at $0.2000 where it has found the strongest support weeks ago. The consolidation which started in the 4-hour window proves that XRP might be on the verge of a bull run above the $0.2000 level. The last upward move Ripple XRP before now was a rise to the 100-day SMA which was located at $0.2073. While Ripple XRP didn’t retest this level, there is a strong chance that it will retest it before the end of trading today.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$1.11-2.36%

In the recent trend, XRP established a low at the $0.1986 level after which it moved above the 50% Fib retracement level of the last drop from the $0.2073 and the $0.1986 level. The key declining channel is at the $0.2040 level on the 4-hour chart. The token has also formed a channel resistance near the 61.8% Fib retracement level of XRP’s recent drop from $0.2073 to $0.1986. An upside break might be on the way if XRP tests the resistance at $0.2075. If the token successfully closes above this resistance, the next resistance it will face will be at the $0.214. This will be followed by a move above the $0.2250 level.

At the time of writing, the price of the token. Was $0.202831. It is up by 0.04% against the USD and down by 0.71% against Bitcoin BTC. The trading volume over a 24 hour period is $1,157,811,499 and the market capitalization is $8,947,467,171. The relative strength index and MACD are bullish.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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