Ripple (XRP) Topside Bias Vulnerable Unless It Surges Past $0.195
Ripple is currently consolidating below the $ 0.1900 resistance against the US Dollar. XRP price must settle above $ 0.1950 and the 100 SMA (H4) to start a strong rally in the near term.
- Ripple price is slowly moving higher after testing the $ 0.1850 support against the US dollar.
- The price is still trading well below $ 0.1920 and the 100 simple moving average (4-hours).
- There was a break above a major bearish trend line with resistance near $ 0.1890 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
- The pair must surpass the $ 0.1920 and $ 0.1950 resistance levels to start a fresh increase.
Ripple Price Facing Uphill Task
This past week, ripple followed a bearish path below the $ 0.1950 pivot level. XRP price broke many important supports near the $ 0.1920 level to move into a bearish zone.
It tested the $ 0.1850 support and settled well below the 100 simple moving average (4-hours). It traded as low as $ 0.1848 and recently started an upside correction. There was a break above the $ 0.1880 resistance level.
The bulls even pushed the price above the 23.6% Fib retracement level of the downward move from the $ 0.1986 high to $ 0.1848 low. Moreover, there was a break above a major bearish trend line with resistance near $ 0.1890 on the 4-hours chart of the XRP/USD pair.
Ripple price below $ 0.1900. Source: TradingView.com
Ripple price is currently consolidating above the broken trend line and below $ 0.1900. The first major resistance is near the $ 0.1920 level and the 100 simple moving average (4-hours). The 50% Fib retracement level of the downward move from the $ 0.1986 high to $ 0.1848 low is also near $ 0.1917.
The main breakout resistance is near the $ 0.1950 level. If there is a successful break above $ 0.1920 and $ 0.1950, the price could start a steady increase. The next key resistance is near $ 0.2000, followed by $ 0.2080.
Fresh Decline in XRP?
If ripple price fails to continue higher above $ 0.1920 or $ 0.1950, there are chances of a fresh decline. An initial support is near the $ 0.1880 level.
The first key support is near the $ 0.1850 level, below which the bulls might struggle to protect $ 0.1825. Any further losses could lead the price below $ 0.1800 in the near term.
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 well above the 50 level.
Major Support Levels – $ 0.1850, $ 0.1825 and $ 0.1800.
Major Resistance Levels – $ 0.1920, $ 0.1950 and $ 0.2000.
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