Ripple (XRP) Consolidates Above $0.18, Faces Rejection at $0.20 Resistance
Login

Ripple (XRP) Consolidates Above $0.18, Faces Rejection at $0.20 Resistance

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:
Key Resistance Levels: $0.30, $0.40, $0.45
Key Support Levels: $0.25, $0.20, $0.15

XRP/USD Long-term Trend: Bearish
Ripple’s major battle is at the $0.20 resistance. Before now the bulls have made two unsuccessful attempts at the resistance. The upward move is temporarily resisted at $0.19 but it is continuing its consolidation above $0.18. As the consolidation is ongoing, the next resistance is at $0.19.

It is anticipated that a successful break above $0.19 will increase the chances of breaking the $0.20 resistance. On the upside, if the bulls are successful the momentum will extend to the high of $0.25. However, if the bears turn around and break below the $0.18 support, XRP will find support at $0.1720.

XRP/USD – Daily Chart

Daily Chart Indicators Reading:
At the moment, XRP is at level 50 of the Relative Strength Index period 14. It implies that the coin is approaching the uptrend zone. The price bars are being resisted by the 50-day SMA. Similarly, 21-day SMA is acting as a support.

XRP/USD Medium-term Trend: Bullish
On the 4 hour chart, Ripple is in an uptrend. A trend line is drawn showing the support levels of price. The bulls have been retesting the $0.20 resistance after the rebound. In the last breakdown, price fell to the support of the trend line and resumed an upward move.

XRP/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and the 21-day SMA are sloping upward indicating the upward move. XRP is currently above 40% range of the daily stochastic. This implies that the market is in a bullish momentum.

General Outlook for Ripple (XRP)
Ripple is currently consolidating above $0.18 support. The pair has been facing stiff resistance at $0.20. The coin has more hurdles to jump over before reaching the major resistance at $0.20. It has to break the resistance at $0.1880, $0.19 and $0.20 before reaching the previous highs.

 

 Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News