Hi there!
PrimeXBT would like to direct your attention to a technical analysis overview of XRPUSD.
Ripple price is struggling to clear a few key hurdles against the US Dollar, while bitcoin is rallying. XRP price could gain traction once there is a close above $0.20.
Firstly, XRP will need to move back through to the support line that's a key bullish trend line forming with support near $0.1950 on the hourly chart to hold another uptrend movement at the first major resistance level.
If there is a downside break below $0.1950 and $0.1940, Ripple's price could move back towards the main support that is near the $0.1900 level, below which the price could move back into the positive zone.
On the upside, there are a few important hurdles forming near the local resistance zone. A successful break above the $0.20 level is needed for the bulls to gain strength. The next major resistances are seen near $0.2140 and $0.23.
In the near term, the Relative Strength Index on the XRPUSD chart is flashing signs of bearish divergence, and some decline is expected inside a triangle.
Please, let us know what you think in the comments below.
We hope you have great success with all your next trades.
PrimeXBT would like to direct your attention to a technical analysis overview of XRPUSD.
Ripple price is struggling to clear a few key hurdles against the US Dollar, while bitcoin is rallying. XRP price could gain traction once there is a close above $0.20.
Firstly, XRP will need to move back through to the support line that's a key bullish trend line forming with support near $0.1950 on the hourly chart to hold another uptrend movement at the first major resistance level.
If there is a downside break below $0.1950 and $0.1940, Ripple's price could move back towards the main support that is near the $0.1900 level, below which the price could move back into the positive zone.
On the upside, there are a few important hurdles forming near the local resistance zone. A successful break above the $0.20 level is needed for the bulls to gain strength. The next major resistances are seen near $0.2140 and $0.23.
In the near term, the Relative Strength Index on the XRPUSD chart is flashing signs of bearish divergence, and some decline is expected inside a triangle.
- Major Support Level: $0.19
- Local Resistance Zone: $0.199 - 0.202
- Market Cap: $8 484 141 997 USD
- Volume (24h): $1 356 747 688 USD
- Circulating Supply: 43 319 477 613 XRP
Please, let us know what you think in the comments below.
We hope you have great success with all your next trades.
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Ripple (XRP) Price Likely to Hit Next Mid-Term Target
