- XRP Might Be Correcting Lower But Bullish Flag Pattern Suggests an Upcoming Surge in Price
- Crossing the Resistance at $0.2200 Will Pave the Way for Higher Highs Near-term
Ripple News Today – XRP still hasn’t been able to catch a break. About four days ago, the price of XRP managed to move above the $0.2000 Level moving as high as $0.2110 for the first time in months. However, it hasn’t been able to gain the momentum needed to record higher highs near-term. The token faced resistance and has now corrected to the $0.1900 level. The resistance at $0.2110 is strong and it wasn’t long until the token fell as below $0.2000. Despite the current price action of XRP, a bullish flag pattern has emerged on the charts indicating that the token might recover to the $0.2200 level soon.
XRP (XRP) Price Today – XRP / USD
Ripple News Today – XRP Price Might Move Higher Against the USD Soon
At the time of writing, the price of XRP was correcting lower from its $0.2118 monthly high. While it is still steady above the $0.1900 support against the USD which also happens to be above the 100 simple moving average. The bullish flag has formed near the resistance at $0.2050. So, a price rally might start as soon as the token crosses the $0.2050 resistance. Breaking below the 23.6% Fib retracement level of the last move from $0.1741 to $0.2118. This was what led the token to fall below the $0.2000 level. It moved below $0.1950 level but there was strong support at $0.1920. The two attempts to move below this level were failed.
The buy zone is now at the 50% Fib retracement level from the last upward swing from $0.1741 to $0.2118. At the time of writing, the price of XRP was $0.197455. It is down by 1.51% against the USD and down by 0.69% against the price of Bitcoin BTC. The trading volume over a 24 hour period is $1,286,794,953 and the market capitalization is $8,738,913,262. The relative strength index is below the 50 levels but the MACD is slowly moving back to the bullish territory. There is support at $0.1900, $0.1920, and $0.1950. On the other hand, there are resistance levels at $0.2110, $0.2050, and $0.2025. Moving above the $0.2200 level will most likely pave the way for higher highs against the USD. The next few trading sections will determine what direction the XRP token will take in the coming days. If the rest of the market recovers significantly, the token will most likely follow suit. Otherwise, it will fall below the immediate support at $0.1950.