Famous Analyst Explains Levels That Ripple Can See Soon
Ripple is currently consolidating below the $ 0.1200 resistance level against the US dollar.
Famous Analyst Explains Levels That Ripple Can See Soon.
According to famous technical analyst Aayush Jindal, the XRP price should rise above $ 0.1950 and 100 SMA (H4) to start a strong rally in the near term.
- Ripple price is slowly rising after testing $ 0.1850 support.
- The price is still $ 0.120 and traded well below the 100 simple moving average (4 hours).
- There was a break above the big bearish trend line with resistance near $ 0.1890 on the 4-hour chart of the XRP / USD pair (Kraken’s data source).
- According to the analyst, the pair should cross the $ 0.1920 and $ 0.1950 resistance levels to start a new increase.
What happened recently in the Ripple market?
Last week, Ripple fell below the $ 0.1950 pivot level. XRP price broke many important supports near the $ 0.12020 level to move to a bearish zone. Cryptocurrency tested the $ 0.1850 support and fell well below the 100 simple moving average (4 hours). The XRP traded down to $ 0.1848 and recently launched an upward correction. There was a break above the $ 0.1880 resistance level.
The bulls lowered the price down from $ 0.1986 to $ 0.1848 above the 23.6% Fib retracement level. Also, there was a break above a major bearish trend line with resistance near $ 0.1890 on the 4-hour chart of the XRP / USD pair. Ripple price is currently consolidating above the broken trend line and below $ 0.10000. The first major resistance is near the $ 0.120 level and the 100 simple moving average (4 hours). The 50% Fib retracement level of the bearish move from $ 0.1986 to $ 0.1848 is also close to $ 0.1917.
Here are the levels that XRP can see in the short term
According to the analyst, the main breakout resistance is near the $ 0.1950 level. If there is a successful break above $ 0.1920 and $ 0.1950, the price could increase steadily, according to the analyst. The next key resistance is around $ 0.2000 and then $ 0.2080.
According to the analyst, there is a chance for a new bearish if Ripple price could not continue above $ 0.1201 or $ 0.1950. First support is near the $ 0.1870 level, according to the analyst. According to the initial primary support analyst, it is close to the $ 0.1850 level, where the bulls can struggle to protect $ 0.1825. Any losses in the near future may drop the price below $ 0.10000.
Current view of Ripple price with technical indicators
4-Hour MACD: MACD is trying to gain momentum in the bullish zone for the XRP / USD pair.
4-Hour RSI (Relative Strength Index): The RSI for XRP / USD is currently well above the 50 level.
Major Support Levels: $ 0.1850, $ 0.1825 and $ 0.1800.
Major Resistance Levels: $ 0.1920, $ 0.1950 and $ 0.2000.