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HomeAltcoin NewsRipple Price Analysis: XRP Could Surge If It Breaks The $0.21 Barrier

Ripple Price Analysis: XRP Could Surge If It Breaks The $0.21 Barrier

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  • Ripple price reversed losses and moved above the $0.1950 pivot zone against the US dollar.
  • The price is now trading in a positive zone above the $0.2000 support level.
  • There is a key bearish trend line forming with resistance near $0.2100 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could either surge above the $0.2100 resistance or decline again towards $0.1880.

Ripple price is currently approaching a major hurdle near $0.2100 against the US Dollar. XRP price must stay above the $0.2000 support for a break above $0.2100 in the near term.

Ripple Price Analysis

In the past few days, ripple price remained stable above the $0.1880 pivot level against the US Dollar. The XRP/USD pair managed to recovery steadily and traded above the $0.1950 resistance zone.

The recent rise was positive as the price climbed above the 50% Fib retracement level of the main slide from the $0.2250 swing high to $0.1738 swing low. It is now trading nicely above the $0.2000 level and the 55 simple moving average (4-hours).

The price is now approaching a major hurdle near the $0.2100 level. There is also a key bearish trend line forming with resistance near $0.2100 on the 4-hours chart of the XRP/USD pair.

The trend line is close to the previous breakdown zone at $0.2100 and $0.2100. Above the trend line, the next resistance is near the $0.2130 level. It is close to the 76.4% Fib retracement level of the main slide from the $0.2250 swing high to $0.1738 swing low.

A successful break above the $0.2100 and $0.2130 resistance levels may perhaps open the doors for a sharp rise in the coming sessions. Ripple price could rally above $0.2100 and it might continue to rise towards the $0.2250 resistance.

Any further gains could lead the price towards the $0.2350 and $0.2380 resistance levels. Conversely, the bulls might struggle to clear the $0.2100 resistance area.

In the mentioned bearish case, the price might start a fresh decline below $0.2020. An initial support is near the $0.2000 level or the 55 simple moving average (4-hours). The main support is near the $0.1900 zone, below which the bears are likely to take control.

Ripple Price
Ripple Price

Looking at the chart, ripple price is clearly approaching a major hurdle and it could either surge above the $0.2100 resistance or decline again towards $0.1880.

Technical indicators

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

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently well above the 55 level.

Key Support Levels – $0.2000, $0.1950 and $0.1900.

Key Resistance Levels – $0.2100 and $0.2250.

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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