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Ripple (XRP) Could Escape Downtrend if it Closes Above One Key Level

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Aayush Jindal

Ripple continues to be dealing with many hurdles close to $0.1980 and $0.2000 in opposition to the US Dollar. XRP worth should settle above the $0.2000 resistance zone to keep away from extra losses within the close to time period.

  • Ripple is climbed in direction of the $0.2000 resistance and traded as excessive as $0.1986 in opposition to the US greenback.
  • The worth is presently consolidating above the $0.1900 help and the 100 hourly easy shifting common.
  • There is a key bullish pattern line forming with help close to $0.1900 on the hourly chart of the XRP/USD pair (knowledge supply from Kraken).
  • The pair should keep above the $0.1900 help to begin an honest upward transfer within the close to time period.

Ripple Price Facing Uphill Task

Ripple worth began a gentle restoration wave from the $0.1820 help zone. XRP climbed above the $0.1900 and $0.1920 resistance ranges. The worth even broke the $0.1950 resistance and the 100 hourly easy shifting common.

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Finally, it climbed in direction of the $0.2000 resistance, however didn’t proceed increased. A excessive was fashioned close to $0.1986 earlier than the value began a recent decline.

There was a break under the $0.1920 degree, however the $0.1900 zone supplied help. A low is fashioned close to $0.1885 and the value is slowly rising. It surpassed the 23.6% Fib retracement degree of the latest decline from the $0.1986 excessive to $0.1885 low.

It looks like there’s a key bullish pattern line forming with help close to $0.1900 on the hourly chart of the XRP/USD pair. On the upside, the $0.1935 degree is presently performing as a resistance. It is near the 50% Fib retracement degree of the latest decline from the $0.1986 excessive to $0.1885 low.

Ripple Price Holds $0.1900: Source: TradingView.com

The first main resistance is close to the $0.1980 degree. The most important hurdle for a bigger upward transfer is close to the $0.2000 degree. A profitable every day shut above the $0.2000 degree may open the doorways for a gentle rise in direction of the $0.2100 and $0.2120 ranges.

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Fresh Decline in XRP?

On the draw back, the $0.1900 help zone is essential. If ripple fails to remain above the pattern line and the $0.1900 help, it may begin a robust decline.

In the said bearish state of affairs, the value may simply drift in direction of the $0.1820 help. Any additional losses may lead it in direction of $0.1800.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is slowly shifting into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now approaching the 50 degree.

Major Support Levels – $0.1900, $0.1880 and $0.1820.

Major Resistance Levels – $0.1935, $0.1980 and $0.2020.

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