{"id":410101,"date":"2020-01-08T05:00:58","date_gmt":"2020-01-08T05:00:58","guid":{"rendered":"https:\/\/wncen.com\/?p=410101"},"modified":"2024-06-11T13:15:13","modified_gmt":"2024-06-11T13:15:13","slug":"ripple-xrp-price-dips-attractive-to-bulls","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-xrp-price-dips-attractive-to-bulls\/","title":{"rendered":"Typical Ripple (XRP) Price Action, Dips Remain Attractive To Bulls"},"content":{"rendered":"
Ripple extended its rally and traded towards the $0.2250 resistance against the US Dollar. Recently, XRP corrected sharply, but bitcoin managed to pop above $8,000 and $8,200.<\/em><\/p>\n Yesterday, we saw a sharp rise in ripple above the $0.2120 resistance against the US Dollar. XRP price even surged above $0.2200, formed a high at $0.2253, and recently started a substantial downside correction.<\/p>\n On the other hand, there were strong gains in bitcoin above $8,000 and $8,200<\/a>. BTC surged towards the $8,500 level and it is currently correcting lower.<\/p>\n Looking at ripple, there was a downturn below the $0.2200 support area. Besides, the price traded below the 50% Fib retracement level of the upward move from the $0.1937 low to $0.2253 high.<\/p>\n Finally, the price dipped below $0.2100 and tested the $0.2080 support area. It seems like there is a major contracting triangle forming with support near $0.2090 on the hourly chart of the XRP\/USD pair.<\/p>\n The current price action suggests that there are chances of another downside thrust below the $0.2100 level. The main support is near the $0.2050 level and the 100 hourly simple moving average.<\/p>\n An intermediate support is near the 61.8% Fib retracement level of the upward move from the $0.1937 low to $0.2253 high. If there is another dip below $0.2100, the bulls are likely to protect the $0.2050 support area. Any further losses might lead the price towards the crucial $0.2000 pivot level<\/a>.<\/p>\n If ripple dives again below $0.2100, it could be considered as a decent buying opportunity. The $0.2050 support holds the key for the current uptrend and bullish case. Only if the price breaks the $0.2000 support, there are chances of a trend change to bearish.<\/p>\n\n
Ripple Price Remains Supported<\/h2>\n
Dips Present Buying Opportunity?<\/h2>\n