Ripple News Today – Ripple XRP Makes Progress, Gains Over 7% As it Hits the $0.2000 Level – July 8, 2020

Ripple XRP Price Prediction
  • Ripple XRP Finally Bounces Back Moving Above the $0.1999 Level
  • Ripple XRP Hits $0.2000 For the First Time in Over a Month 

Ripple News Today – Ripple XRP has finally caught a break. The price has been surging against the USD for the last 24 hours. It seems XRP has truly bottomed out as stated in our XRP price analysis yesterday. Right now, the token is the second-best performing only second to Cardano ADA. Ripple entered the trading day up by 5% against the USD breaking the key resistance at $0.1920 and moved higher to the $0.2000 which stood has key resistance for more than a month. Shortly after testing the $0.2000 level, however, the token corrected lower. This is because of the declining channel that formed at this level. For higher highs to come, XRP needs to cross this $0.2000 level.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.308
2.84%

Ripple News Today – Ripple XRP Makes Progress But the Resistance at $0.2000 Challenges the Bulls

The 100-day simple moving average is at the $0.2000 and it is now the main hurdle for the bulls. Toward the end of last week, XRP fell below the $0.1720 level where it formed strong support. However, the support didn’t hold for long and the token fell to the $0.1687 level earlier this week. When XRP reached the $0.1687 level, it gained bullish momentum and surged quickly to $0.1820. The price stalled a little when it got to this level but it shortly bounced back moving as high as $0.1900. XRP was faced with resistance at $0.1950 but there was smooth sailing from this level upward. XRP successfully moves above the 50% fib retracement level from the last downward slope from $0.2151 to $0.1687. Unfortunately, the resistance at $0.2000 was too strong, and if forced the price to fall lower.

XRP Price Prediction 2020 – Ripple XRP Price Prediction 2020 

At the time of writing, the XRP token is trading at $0.199161. It is up by 7.83% against the USD and up by 7.83% against Bitcoin BTC. The trading volume over a 24 hour period is $1,449,053,085 and the market capitalization is $8,814,421,462. The MACD is fully in the bullish level and the relative strength index is above 55. The major resistance levels are at $0.1820, $0.1900, and $0.1920 while the major resistance levels are at $0.2200, $0.2150, and $0.2000. If the bulls maintain the momentum, the XRP token will most likely cross the $0.2000 level again today. If this happens, the token will move as high as the $0.2400 level near-term and it will break several resistances along the way. The next few hours of trading will show us how high the XRP token will go.

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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