HomeAltcoin NewsRipple Price Analysis: XRP Approaching Crucial Hurdle At $0.1920

Ripple Price Analysis: XRP Approaching Crucial Hurdle At $0.1920

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  • Ripple price is currently correcting higher from the $0.1840 support zone against the US dollar.
  • The price is facing a strong resistance near the $0.1900 level and the 55 simple moving average (4-hours).
  • There is a crucial bearish trend line forming with resistance near $0.1900 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could either rally above the $0.1920 resistance or start another downward move.

Ripple price is trading in a bearish zone below the $0.1920 resistance against the US Dollar. XRP price remains at a risk of more losses if it fails to clear $0.1900 and $0.1920.

Ripple Price Analysis

This past week, ripple price extended its decline below the $0.1920 level against the US Dollar. The XRP/USD pair broke the $0.1900 support level and settled below the 55 simple moving average (4-hours).

It tested the $0.1840 support zone and a low is formed near the $0.1850 level. The price is currently consolidating gains above $0.1850 and it seems to be preparing for the next major move.

On the upside, an initial resistance is near the $0.1882 level. It is close to the 23.6% Fib retracement level of the recent decline from the $0.1989 high to $0.1850 low. Moreover, there is a crucial bearish trend line forming with resistance near $0.1900 on the 4-hours chart of the XRP/USD pair.

The trend line is close to the 55 simple moving average (4-hours) at $0.1905. Above the trend line, the next resistance is near the $0.1920 level or the 50% Fib retracement level of the recent decline from the $0.1989 high to $0.1850 low.

If the bulls push the price above the $0.1920 resistance, the price could easily move above the $0.1950 resistance. The next key resistance is seen near the $0.2000 level, above which the bulls are likely to aim a test of the $0.2135 resistance region.

Conversely, the price might fail to surpass the bearish trend line or $0.1920. In the stated case, the price could revisit the $0.1840 support zone. Any further losses could open the doors for a larger decline below $0.1800.

Ripple Price
Ripple Price

Looking at the chart, ripple price is clearly trading approaching a major resistance at $0.1900. Therefore, it could either rally above the $0.1920 resistance or start another downward move.

Technical indicators

4 hours MACD – The MACD for XRP/USD is struggling to gain momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently just below the 50 level.

Key Support Levels – $0.1845, $0.1800 and $0.1750.

Key Resistance Levels – $0.1900 and $0.1920.

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Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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