“This Level Will Determine the Fate of XRP!”: Here’s what happened in Ripple and the Levels to Watch
ipple traded at its monthly high of $ 0.2118 against the US dollar.
“This Level Will Determine the Fate of XRP!”: Here’s what happened in Ripple and the Levels to Watch.
According to famous analyst Aayush Jindal, the XRP price is currently recovering at lower levels, but the declines are well supported around $ 0.1970 and the 100 hour SMA.
- Ripple launched a downside correction after trading up to $ 0.2118 against the US dollar.
- The price is currently testing the $ 0.2000 support and is well above the 100-hour SMA.
- On the hourly chart of the XRP / USD pair (Kraken’s data source) there is a bullish trend line supported by $ 0.1950.
- According to the analyst, the pair is likely to bounce back as long as it is above $ 0.1950 and the 100-hour SMA.
- According to the analyst, the $ 0.1950 level is a critical level for cryptocurrency and should be carefully monitored.
Ripple price reached its monthly peak! So what happened in the market?
After a successful close above the $ 0.2000 region, Ripple extended its upward movement. The XRP price traded above the $ 0.2050 resistance and remained well above the 100 hourly simple moving average. It traded at a new monthly high of $ 0.2118, and a negative correction has recently begun. Then there was a break below the $ 0.2050 and $ 0.2040 support levels.
The price tested the $ 0.2000 and $ 0.1985 support levels. Now the 50% Fib retracement level of the move from $ 0.1831 to $ 0.2188 serves as a strong boost. Also, there is a bullish trend line supported by $ 0.1950 on the hourly chart of the XRP / USD pair. The trendline is close to the 61.8% Fib retracement level of the upward movement. The 100-hour simple moving average is also close to the $ 0.1940 level to provide support, according to the analyst.
Famous analyst: Closing below this level may initiate major correction
Increasing initial resistance is near the $ 0.2020 level, according to Aayush Jindal. According to the first major resistance analyst, it is close to the $ 0.2050 level, above which the price may rise towards the $ 0.2120 and $ 0.2150 levels in the near future. On the downside, the analyst holds trendline support and a 100-hour SMA key.
According to the analyst, if there is a downside break and the XRP closes below the $ 0.1950 level, the price may initiate a significant downward move. According to the next major support analyst, it is close to the $ 0.10000 level, below which the price may continue to drop towards the $ 0.1820 level in the coming sessions.
Current view of Ripple price with technical indicators
Hourly MACD: For the XRP / USD pair, the MACD is moving slowly in the bearish zone.
Hourly RSI (Relative Strength Index): The RSI for XRP / USD is just below the 50 level.
Major Support Levels: $ 0.1970, $ 0.1950 and $ 0.1940.
Major Resistance Levels: $ 0.2020, $ 0.2050 and $ 0.2120.