{"id":434079,"date":"2020-08-11T06:08:56","date_gmt":"2020-08-11T06:08:56","guid":{"rendered":"https:\/\/wncen.com\/?p=434079"},"modified":"2024-06-11T14:14:55","modified_gmt":"2024-06-11T14:14:55","slug":"ripple-xrp-signaling-fresh-rally-after-this-key-technical-breakout","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-xrp-signaling-fresh-rally-after-this-key-technical-breakout\/","title":{"rendered":"Ripple (XRP) Signaling Fresh Rally After This Key Technical Breakout"},"content":{"rendered":"
Ripple is forming a strong support base above the $0.2800 level against the US Dollar. XRP price is showing positive signs and it seems like it could rally above the $0.3100 and $0.3200 levels.<\/em><\/p>\n After a substantial downside correction, ripple found support near the $0.2800 level<\/a>. The price started a fresh and steady increase above the $0.2850 and $0.2920 resistance levels.<\/p>\n The upward move was positive, with a close above the $0.2920 level and the price is now trading well above the 100 simple moving average (4-hours). There was also a break above the 50% Fib retracement level of the downward move from the $0.3200 swing high to $0.2789 swing low.<\/p>\n More importantly, there was a break above a major bearish trend line with resistance near $0.2990 on the 4-hours chart of the XRP\/USD pair. The pair is now trading nicely above the $0.3000 level<\/a>.<\/p>\n <\/a><\/p>\n An immediate resistance is near the $0.3050 level. It is close to the 61.8% Fib retracement level of the downward move from the $0.3200 swing high to $0.2789 swing low. A successful break above the $0.3050 level could open the doors for more gains above the $0.3120 and $0.3150 levels.<\/p>\n The main hurdle is near the $0.3200 level, above which the bulls are likely to aim a larger rally in the near future towards the $0.3500 and $0.3600 levels.<\/p>\n On the downside, the first major support is near the $0.2920 level. If ripple fails to continue higher above $0.3050, there is a risk of a bearish wave.<\/p>\n The main support is near the $0.2800 level, below which the price may perhaps start a steady decline towards the $0.2650 level in the coming days.<\/p>\n Technical Indicators<\/p>\n 4-Hours MACD \u2013 The MACD for XRP\/USD is now gaining strength in the bullish zone.<\/p>\n 4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now well above the 50 level.<\/p>\n Major Support Levels \u2013 $0.2950, $0.2920 and $0.2800.<\/p>\n Major Resistance Levels \u2013 $0.3050, $0.3120 and $0.3200.<\/p>\n","protected":false},"excerpt":{"rendered":" Ripple is forming a strong support base above the $0.2800 level against the US Dollar. XRP price is showing positive signs and it seems like it could rally above the $0.3100 and $0.3200 levels. Ripple is rising again after forming a major support base above $0.2800 against the US dollar. The price is currently trading above the $0.3000 level and the 100 SMA (H4). There was a break above a major bearish trend line with resistance near $0.2990 on the 4-hours chart of the XRP\/USD pair (data source from Kraken). The pair could continue to rise towards the main $0.3200 resistance level in the near term. Ripple Price Is Gaining Momentum After a substantial downside correction, ripple found support near the $0.2800 level. The price started a fresh and steady increase above the $0.2850 and $0.2920 resistance levels. The upward move was positive, with a close above the $0.2920 level and the price is now trading well above the 100 simple moving average (4-hours). There was also a break above the 50% Fib retracement level of the downward move from the $0.3200 swing high to $0.2789 swing low. More importantly, there was a break above a major bearish trend line with resistance near $0.2990 on the 4-hours chart of the XRP\/USD pair. The pair is now trading nicely above the $0.3000 level. Ripple (XRP) price trades above $0.3000. Source: TradingView.com An immediate resistance is near the $0.3050 level. It is close to the 61.8% Fib retracement level of the downward move from the $0.3200 swing high to $0.2789 swing low. A successful break above the $0.3050 level could open the doors for more gains above the $0.3120 and $0.3150 levels. The main hurdle is near the $0.3200 level, above which the bulls are likely to aim a larger rally in the near future towards the $0.3500 and $0.3600 levels. Downsides Likely To Be Limited in XRP On the downside, the first major support is near the $0.2920 level. If ripple fails to continue higher above $0.3050, there is a risk of a bearish wave. The main support is near the $0.2800 level, below which the price may perhaps start a steady decline towards the $0.2650 level in the coming days. Technical Indicators 4-Hours MACD \u2013 The MACD for XRP\/USD is now gaining strength in the bullish zone. 4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now well above the 50 level. Major Support Levels \u2013 $0.2950, $0.2920 and $0.2800. Major Resistance Levels \u2013 $0.3050, $0.3120 and $0.3200.<\/p>\n","protected":false},"author":67,"featured_media":434083,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16894,4],"tags":[3680,4531,10972,78763],"class_list":["post-434079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple","category-analysis","tag-ripple","tag-xrp","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n\n
Ripple Price Is Gaining Momentum<\/h2>\n
Ripple (XRP) price trades above $0.3000. Source: TradingView.com<\/a><\/pre>\n
Downsides Likely To Be Limited in XRP<\/h2>\n