Ripple (XRP) Broke Major Hurdle, Bulls Aim Close Above $0.30

Ripple (XRP) Broke Major Hurdle, Bulls Aim Close Above alt=

The ripple has increased over 10% and is over $ 0.3000 against the US dollar. XRP price is showing positive signs and is likely to continue rising towards $ 0.3100 and $ 0.3200.

  • Ripple is showing some bullish signs above $ 0.2700 and $ 0.2800 against the US dollar.
  • The price is trading well above the simple moving average of 100 (4 hours) but is facing hurdles near $ 0.3000.
  • The 4-hour chart of the XRP / USD pair (data source from Kraken) broke above a large bearish trendline with resistance near USD 0.2700.
  • The pair could continue to advance towards $ 0.3200 if there is a close above the $ 0.3000 level.

Ripple’s XRP Price Up 10%

After Ripple’s XRP price formed a base above the $ 0.2500 level, it rose again. The price was above the $ 0.2650 level to enter a short-term bullish zone.

Recently, Bitcoin and Ethereum have seen a decent upward move that opened the doors for XRP to surge above $ 0.2720. There was also a break above a large bearish trendline with resistance near $ 0.2700 on the 4-hour chart for the XRP / USD pair.

The pair rose above $ 0.2800 and the 4 hour simple moving average of 100. The price even surged above the 61.8% Fib retracement level of the downward move from the high of $ 0.3305 to the low of $ 0.2396.

Source: XRPUSD on TradingView.com

However, the price did not exceed the main resistance level of $ 0.3100. It also failed near the 76.4% fib retracement level of the downward move from the high of $ 0.3305 to the low of $ 0.2396. The price is currently falling but there is a high chance it will rise again above $ 0.3000.

A closing price above the $ 0.3000 level could potentially increase the likelihood of a push above the $ 0.3100 resistance. The next major resistance is near the $ 0.3200 level.

Fresh immersion in XRP?

If the ripple does not fall back above $ 0.3000, it can be corrected lower. Initial support is near the USD 0.2800 level and the SMA of 100 (H4).

A downside break below the USD 0.2800 support zone could open the doors for a push towards the USD 0.2700 support. The next big support is near the $ 0.2620 level and the broken trendline.

Technical indicators

4 Hour MACD – The MACD for XRP / USD is picking up pace in the bullish zone.

4-hour RSI (Relative Strength Index) – The RSI for XRP / USD is now well above the 50 level.

Key support levels – $ 0.2800, $ 0.2700, and $ 0.2620.

Main Resistance Levels – $ 0.3000, $ 0.3100, and $ 0.3200.

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