June 22, 2021

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

2 min read

Ripple is up over 10% and it spiked above $0.3000 versus the US Dollar. XRP price is revealing positive indications and it is likely to continue greater towards $0.3100 and $0.3200.

  • Ripple is revealing a couple of bullish signs above $0.2700 and $0.2800 versus the United States dollar.
  • The price is trading nicely above the 100 basic moving average (4-hours), however it is facing obstacles near $0.3000.
  • There was a break above a significant bearish pattern line with resistance near $0.2700 on the 4-hours chart of the XRP/USD set (information source from Kraken).
  • The set could continue to increase towards $0.3200 if there is a close above the $0.3000 level.

Ripple’s XRP Price Surges 10%

After forming a base above the $0.2500 level, ripple’s XRP cost began a fresh boost. The cost settled above the $0.2650 level to move into a short-term bullish zone.

Recently there was a decent upward move in bitcoin and Ethereum, opening the doors for a surge in XRP above $0.2720. There was likewise a break above a significant bearish trend line with resistance near $0.2700 on the 4-hours chart of the XRP/USD set.

The set rallied above $0.2800 and the 100 simple moving average (4-hours). The rate even spiked above the 61.8% Fib retracement level of the down move from the $0.3305 swing high to $0.2396 low.

Ripple (XRP)

Source: XRPUSD on TradingView.com However, the cost stopped working to surpass the main $0.3100 resistance level. It likewise failed near the 76.4% Fib retracement level of the down move from the $0.3305 swing high to $0.2396 low. The price is presently dipping, however there are high possibilities of a fresh boost above $0.3000.

A close above the $0.3000 level may possibly increase the possibilities of a push above the $0.3100 resistance. The next significant resistance is near the $0.3200 level.

Fresh Dip in XRP?

If ripple fails to climb up back above $0.3000, it might correct lower. An initial support is near the $0.2800 level and the 100 SMA (H4). A downside break below the $0.2800 assistance zone might unlock for a push towards the $0.2700 assistance. The next significant assistance is near the $0.2620 level and the broken pattern line. Technical Indicators 4-Hours MACD –-- The MACD for XRP/USD is gaining speed in the bullish zone. 4-Hours RSI (Relative Strength Index) –-- The RSI for XRP/USD is now well above the 50 level. Major Support Levels –-- $0.2800, $0.2700 and $0.2620. Major Resistance Levels –-- $0.3000, $0.3100 and $0.3200.