• Ripple price is trading in a positive zone above the $0.2000 support against the US dollar.
  • The price is facing hurdles near the $0.2200 and $0.2250 levels.
  • There is a breakout pattern forming with resistance near $0.2175 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair is likely to accelerate gains above the $0.2175 and $0.2200 levels in the near term.

Ripple price is trading in an uptrend above $0.2000 against the US Dollar. XRP price could start another rally if it climbs above the $0.2175 resistance area.

Ripple Price Analysis

There was a nice upward move in ripple price from the $0.1840 support area against the US Dollar. XRP/USD climbed above the $0.2000 resistance area to enter a positive zone.

Moreover, there was a close above the $0.2000 level and the 55 simple moving average (4-hours). It opened the doors for more gains above the $0.2100 level. Finally, the price tested the $0.2250 resistance area before correcting lower.

It broke the $0.2150 support, but it stayed above the $0.2000 support. A low was formed near $0.2001 and the price climbed towards $0.2200. Ripple is currently declining and trading below the 23.6% Fib retracement level of the upward move from the $0.2001 low to $0.2195 high.

An initial support on the downside is near the $0.2095 level. It represents the 50% Fib retracement level of the upward move from the $0.2001 low to $0.2195 high.

On the upside, there is a key hurdle forming near $0.2180. Additionally, there is a breakout pattern forming with resistance near $0.2175 on the 4-hours chart of the XRP/USD pair.

Therefore, a clear break above the $0.2175 and $0.2180 levels might set the pace for more gains. Finally, a close above the $0.2200 level might set the pace for a strong rise towards the $0.2250 and $0.2300 levels.

Conversely, the price breaks the $0.2100 support area and the 55 simple moving average (4-hours). The next major sport is near the $0.2000 level, below which the price is likely to turn bearish in the near term.

Ripple Price Analysis

Ripple Price

Looking at the chart, ripple price is correcting gains from the $0.2250 barrier. However, the price remains well supported on the downside near $0.2100 and $0.2000. Unless there is a close below $0.2000, the price is likely to climb higher above $0.2200 and $0.2250.

Technical indicators

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

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

Key Support Levels – $0.2100, $0.2050 and $0.2000.

Key Resistance Levels – $0.2200 and $0.2250.

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