XRP/USD Defiantly Stays In The Green, Soars 7% While Eying $0.20

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  • Ripple stabilizes in the green, remaining technically poised for a surge above $0.1600.
  • A breakout above the triangle resistance could catapult XRP/USD to tackle the hurdle at $0.1750 and $0.2000.

Ripple price bulls are keen to hold onto the gains accrued on Tuesday ignoring the bearish wave across the board. Other major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) are struggling to hold above their opening values at $6,496 and $136 respectively. On the other hand, XRP/USD is up by 7.39% on the day after extending the bullish leg from $0.1477 (opening value) to $0.1591 (market value). The intraday high at $0.1622 is the second resistance level above $0.1600.

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XRP/USD immediate downside is protected by the 50 Simple Moving Average (SMA) in the 4-hour range. An ascending trendline is also in line to offer support above $0.1400 and the next support target at $0.1200 and $0.1000.

According to the Relative Strength Index (RSI), Ripple price is likely to settle for a sideways trading action between $0.1500 and $0.1600. The continued upward movement is only possible if gains are sustained above the $0.1622. Moreover, a break above the rising triangle resistance would give the bulls a boot towards the psychological $0.2000.

XRP/USD 4-hour chart

XRP/USD price chart
XRP/USD price chart by Tradingview

Ripple Key Levels

Spot rate: $0.1587

Relative change: 0.0109

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Crypto Rocket

Percentage change: 7.39%

Trend: Bearish

Volatility: Shrinking

Support 1: $0.1600

Support 2: $0.1500

Resistance 1: $0.1622

Resistance 2: $0.1750

 

 

Summary

Ripple Price Analysis: XRP/USD Defiantly Stays In The Green, Soars 7% While Eying $0.20

Article Name

Ripple Price Analysis: XRP/USD Defiantly Stays In The Green, Soars 7% While Eying $0.20

Description

Ripple stabilizes in the green, remaining technically poised for a surge above $0.1600.
A breakout above the triangle resistance could catapult XRP/USD to tackle the hurdle at $0.1750 and $0.2000.

Author

John Isige

Publisher Name

Coingape

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Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.

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The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.



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