{"id":423025,"date":"2020-05-07T05:58:39","date_gmt":"2020-05-07T05:58:39","guid":{"rendered":"https:\/\/wncen.com\/?p=423025"},"modified":"2024-06-11T13:48:22","modified_gmt":"2024-06-11T13:48:22","slug":"ripple-xrp-100-sma-can-trigger-rally","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-xrp-100-sma-can-trigger-rally\/","title":{"rendered":"Ripple (XRP) Shows Signs of Reversal But 100 SMA Can Trigger New Rally"},"content":{"rendered":"
Ripple is currently consolidating above the $0.2100 support against the US Dollar. XRP price is showing bearish signs, but it could start a fresh increase as long as it is above the 100 SMA (H4).<\/em><\/p>\n
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Ripple price is currently struggling to stay above the $0.2100 support against the US dollar.<\/li>\n
The price is facing a couple of important hurdles near the $0.2220 and $0.2265 levels.<\/li>\n
There was a break below a key bullish trend line with support near $0.2160 on the 4-hours chart of the XRP\/USD pair (data source from Kraken).<\/li>\n
The pair must stay above $0.2050 and the 100 SMA (H4) to start a fresh increase.<\/li>\n<\/ul>\n
Ripple Price Trading Near Crucial Juncture<\/h2>\n
This past month, ripple surged above the $0.2000 and $0.2100 resistance levels to move into a positive zone. XRP price traded as high as $0.2359, settled well above the 100 simple moving average (4-hours), and recently started a downside correction.<\/p>\n
There was a break below the $0.2200 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $0.1789 low to $0.2359 high.<\/p>\n
However, the $0.2100 region is acting as a strong support. The 50% Fib retracement level of the upward move from the $0.1789 low to $0.2359 high is also acting as a support.<\/p>\n