Ripple (XRP) Daily Close Above $0.20 Would Make Case for Larger Rally

Ripple started a downside correction from the $0.2050 resistance against the US Dollar. XRP price tested the $0.1900 support area and it is currently rising towards $0.2000.

  • Ripple price is trading nicely above the $0.1880 and $0.1900 support levels against the US dollar.

  • A successful daily close above the $0.2000 barrier could start a larger rally.

  • There is a key bearish trend line forming with resistance near $0.2000 on the hourly chart of the XRP/USD pair (data source from Kraken).

  • The pair could continue to rise as long as it is above the $0.1880 support and pivot area.

Ripple Price Remains in The Green Zone

Yesterday, there was a strong rise in ripple above the $0.1880 and $0.1950 resistance levels. XRP even broke the key $0.2000 resistance area, but it failed to settle above the $0.2025 resistance area. There were two attempts by the bulls to clear the $0.2050 barrier, but they failed. As a result, there was a downside correction from the $0.2055 swing high. The price traded below the $0.2000 support area, but it remained well above the 100 hourly simple moving average. Read More...

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