Ripple Price (XRP) Trading Near Make-or-Break Levels
Ripple price found support near $0.2960 and recently recovered higher against the US dollar.
The price traded above the $0.3100 resistance area, but it is struggling to break the $0.3200-0.3230 area.
The bulls are struggling to gain strength above a bearish trend line with resistance at $0.3185 on the hourly chart of the XRP/USD pair (data source from Kraken).
The price must gain strength above $0.3200 and $0.3230 to continue higher in the near term.
Analyst: Crypto Market Pullback Imminent But May Not Occur For Months
Tuesday February 18, 2020
The crypto market experienced a short and minor correction this past week but appears to be ready to keep chugging right along, with no end to the momentum in sight. In fact, one cryptocurrency...
The post Analyst: Crypto Market Pullback Imminent But May Not Occur For Months appeared first on 12bitplay - Bitcoin Play.
Ripple price is slowly recovering against the US Dollar, while bitcoin gained nearly 8%. XRP price is now facing a strong resistance near $0.3230, above which it could continue higher.
Ripple Price Analysis
Yesterday, we saw a sharp decline in bitcoin and Ethereum, pushing ripple price below $0.3200 against the US Dollar. The XRP/USD pair even spiked below the $0.3000 support and settled below the 100 hourly simple moving average. A new swing low was formed near $0.2960 and the price recently started an upside correction. It managed to move above the $0.3040 and $0.3050 resistance levels.
Moreover, there was a break above the 23.6% Fib retracement level of the last drop from the $0.3505 high to $0.2959 low. However, the price is facing a strong resistance near the $0.3200 and $0.3210 levels. Additionally, the bulls struggle to gain strength above a bearish trend line with resistance at $0.3185 on the hourly chart of the XRP/USD pair.
The 50% Fib retracement level of the last drop from the $0.3505 high to $0.2959 low is also near the $0.3230 level to act as a strong resistance. Above $0.3230, the 100 hourly SMA is positioned near the $0.3250 level. Therefore, the bulls are likely to struggle to gain strength above $0.3230 and the 100 hourly SMA. Should there be a successful close above $0.3230 and the 100 hourly SMA, ripple price could recover towards the $0.3500 level.
On the other hand, if the price fails to gain above $0.3200 or $0.3230, it could resume its decline. An immediate support is near the $0.3100 level, below which the price could test the $0.3000 support area.
Ripple (XRP) Approaching Next Crucial Break: Here’s Why $0.35 Holds Key
Friday February 14, 2020
Ripple surged higher and climbed above the $0.3200 resistance area against the US Dollar. However, XRP price is now facing a strong resistance near the $0.3400-$0.3500 area. Ripple price surged to a new 2020...
The post Ripple (XRP) Approaching Next Crucial Break: Here’s Why $0.35 Holds Key appeared first on 12bitplay - Bitcoin Play.
Looking at the chart, ripple price is currently trading near a crucial resistance at $0.3200-0.3230. It could either continue higher above $0.3230 and $0.3250 or start a fresh decline towards $0.3000. Should there be a downside break below $0.3000, the price may perhaps decline towards the $0.2850 support level in the near term.
Hourly MACD – The MACD for XRP/USD is likely to move back into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently just below the 50 level.
Major Support Levels – $0.3100, $0.3000 and $0.2950.
Major Resistance Levels – $0.3200, $0.3230 and $0.3250.
The post Ripple Price (XRP) Trading Near Make-or-Break Levels appeared first on NewsBTC.
There’s a “Non-Trivial” Chance XRP is About to Explode; Here’s How High It Could Go
Saturday February 15, 2020
The ongoing rally seen amongst major cryptos has allowed XRP to break past the key resistance it was previously facing around $0.33, with its movement past this level leading analysts to grow even more...
The post There’s a “Non-Trivial” Chance XRP is About to Explode; Here’s How High It Could Go appeared first on 12bitplay - Bitcoin Play.