Master Analyst “Ripple Won’t Fall Silent!” He said and pointed out these levels!
According to famous technical analyst Aayush Jindal, the XRP price seems to be preparing to rise above the resistance zone of $ 0.1800.
- The Ripple price faces several major hurdles near the $ 0.1780 and $ 0.10000 levels against the US dollar.
- The price is trading well below the 100 simple moving average (4 hours) and $ 0.10000 .
- On the 4-hour chart of the XRP / USD pair (Kraken’s data source) there is a significant bearish trend line with resistance at $ 0.1780.
- If the pair clears the $ 0.1780 and $ 0.1800 resistance levels, it is expected to start a new increase.
Famous analyst: Ripple (XRP) price will not fall silent! Risk of explosion increased
After diving below $ 0.1700, XRP started a slow and steady recovery. The XRP price traded above the $ 0.1700 and $ 0.1720 levels to move to a short-term positive region. There was a break above the 23.6% Fib retracement level of the downside move from $ 0.1868 to $ 0.1689. However, the price faces several major hurdles near the $ 0.1780 and $ 0.1800 levels.
There is also a significant bearish trend line formed with resistance at $ 0.1780 on the 4-hour chart of the XRP / USD pair. The trendline is close to the 50% Fib retracement level of the drop from $ 0.1868 to $ 0.1689. Ripple seems to be preparing for a significant reverse break above its $ 0.1800 resistance. According to the analyst, if Bitcoin exceeds its $ 9,300 resistance, XRP has a good chance of rising above $ 0.1800.
Here are the levels Ripple can see in the coming days
According to the analyst, the next key resistance above $ 0.1800 is near the $ 0.1850 level and the 100 simple moving average (4 hours). Subsequent gains could direct the price towards the next set of obstacles around $ 0.100 and $ 0.120 in the coming sessions, according to the analyst.
If Ripple price does not exceed the $ 0.1780 and $ 0.1800 resistance levels, there is a possibility of a new decline, according to the analyst. Initial support is near the $ 0.1730 level. According to the initial primary support analyst, it is near the $ 0.1720 level, where the price may continue to drop. According to the next support analyst, it comes close to the $ 0.1680 level, then to the $ 0.1650 pivot level.
Current view of Ripple price with technical indicators
4-Hour MACD: For the XRP / USD pair, the MACD is slowly gaining momentum in the bullish zone.
4-Hour RSI (Relative Strength Index): The RSI for XRP / USD is currently approaching the 50 level.
Major Support Levels: $ 0.1720, $ 0.1680 and $ 0.1650.
Major Resistance Levels: $ 0.1780, $ 0.1800 and $ 0.1850.