{"id":452477,"date":"2020-12-17T07:18:28","date_gmt":"2020-12-17T07:18:28","guid":{"rendered":"https:\/\/wncen.com\/?p=452477"},"modified":"2024-06-11T07:55:34","modified_gmt":"2024-06-11T07:55:34","slug":"bitcoins-surge-pumped-ripple-xrp-055","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/bitcoins-surge-pumped-ripple-xrp-055\/","title":{"rendered":"Charted: How Bitcoin\u2019s Surge Pumped Ripple (XRP) Into The Green Zone"},"content":{"rendered":"
Ripple trimmed its losses after bitcoin\u2019s rally against the US Dollar. XRP price gained 30% and it is now trading well above the $0.5500 resistance level.<\/em><\/p>\n Yesterday, we saw a nasty decline in ripple\u2019s XRP price below $0.4500. The price traded as low as $0.4352 and recently started a fresh increase. There was a sharp rally in bitcoin<\/a>, Ethereum<\/a>, and XRP.<\/p>\n The bulls took over the crypto market and XRP surged above the $0.5000 resistance level. The upward move was such that the price gained over 30%. During the increase, there was a break above a key declining channel with resistance near $0.5300 on the 4-hours chart of the XRP\/USD pair.<\/p>\n The pair even surpassed the 50% Fib retracement level of the key downward wave from the $0.5945 high to $0.4350 swing low. It even spiked above the $0.5500 resistance zone.<\/p>\n <\/a><\/p>\n It is now trading near the $0.5700 resistance level and the 100 simple moving average (4-hours). It is showing a lot of positive signs. An immediate resistance is near the $0.5890 level. It is close to the 61.8% Fib retracement level of the key downward wave from the $0.5945 high to $0.4350 swing low.<\/p>\n A close above the $0.5890 level could set the pace for a sustained upward move towards the $0.6000 and $0.6120 levels in the near term.<\/p>\n If ripple starts a short-term downside correction, it could find support near the $0.5500 level. The first major support is near the $0.5400 levels, where the bulls are likely to take a stand.<\/p>\n The main support is near the broken channel trend line or $0.5200. Any more losses may perhaps decrease the current bullish pressure.<\/p>\n Technical Indicators<\/p>\n 4-Hours MACD \u2013 The MACD for XRP\/USD is gaining momentum 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 $0.5500, $0.5400 and $0.5200.<\/p>\n Major Resistance Levels \u2013 $0.5800, $0.5890 and $0.6000.<\/p>\n","protected":false},"excerpt":{"rendered":" Ripple trimmed its losses after bitcoin\u2019s rally against the US Dollar. XRP price gained 30% and it is now trading well above the $0.5500 resistance level. Ripple started a strong increase from the $0.4350 support zone against the US dollar. The price is now trading well above $0.5200 and the 100 simple moving average (4-hours). There was a break above a key declining channel with resistance near $0.5300 on the 4-hours chart of the XRP\/USD pair (data source from Kraken). The pair is gaining pace and it seems like the bulls are aiming a test of the $0.6000 resistance zone. Ripple\u2019s XRP Price is Gaining Bullish Momentum Yesterday, we saw a nasty decline in ripple\u2019s XRP price below $0.4500. The price traded as low as $0.4352 and recently started a fresh increase. There was a sharp rally in bitcoin, Ethereum, and XRP. The bulls took over the crypto market and XRP surged above the $0.5000 resistance level. The upward move was such that the price gained over 30%. During the increase, there was a break above a key declining channel with resistance near $0.5300 on the 4-hours chart of the XRP\/USD pair. The pair even surpassed the 50% Fib retracement level of the key downward wave from the $0.5945 high to $0.4350 swing low. It even spiked above the $0.5500 resistance zone. Source: XRPUSD on TradingView.com It is now trading near the $0.5700 resistance level and the 100 simple moving average (4-hours). It is showing a lot of positive signs. An immediate resistance is near the $0.5890 level. It is close to the 61.8% Fib retracement level of the key downward wave from the $0.5945 high to $0.4350 swing low. A close above the $0.5890 level could set the pace for a sustained upward move towards the $0.6000 and $0.6120 levels in the near term. Dips Supported in XRP? If ripple starts a short-term downside correction, it could find support near the $0.5500 level. The first major support is near the $0.5400 levels, where the bulls are likely to take a stand. The main support is near the broken channel trend line or $0.5200. Any more losses may perhaps decrease the current bullish pressure. Technical Indicators 4-Hours MACD \u2013 The MACD for XRP\/USD is gaining momentum 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 $0.5500, $0.5400 and $0.5200. Major Resistance Levels \u2013 $0.5800, $0.5890 and $0.6000.<\/p>\n","protected":false},"author":67,"featured_media":452479,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[74937,10972,78763],"class_list":["post-452477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-xrpbtc","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n\n
Ripple\u2019s XRP Price is Gaining Bullish Momentum<\/h2>\n
Source: XRPUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in XRP?<\/h2>\n