Bitcoin Touched $12K While Ripple Price (XRP) Is Still Consolidating @newsbtc #Analysis #Technical #Ripple #xrp

• Ripple price remained in broad range and recently tested the $0.4070 level against the US dollar.
• The price is currently trading above the $0.4000 support, but it is facing many hurdles on the upside.
  • Ripple price remained in broad range and recently tested the $0.4070 level against the US dollar.
  • The price is currently trading above the $0.4000 support, but it is facing many hurdles on the upside.
  • There is a connecting bullish trend line forming with support at $0.4008 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price could either break $0.4075 and climb higher or decline again below $0.4000.

  Ripple price is still consolidating in a broad range against the US Dollar, while bitcoin climbed towards $12,000. XRP price must break $0.4075 and $0.4140 to continue higher.

  Ripple Price Analysis

  In the past few sessions, there was strong rise in bitcoin price above $11,500, but ripple price remained in a range against the US Dollar. The XRP/USD pair started a slow and steady rise from the $0.3814 swing low. It broke the $0.3920 and $0.4000 resistance levels. There was also a break above the $0.4050 level and the 100 hourly simple moving average. However, the price struggled to clear the $0.4070 resistance.

  It corrected lower below $0.4050 plus the 23.6% Fib retracement level of the upward move from the $0.3814 low to $0.4068 high. However, the $0.3960 level acted as a support and the price climbed back above the 100 hourly SMA. Moreover, it stayed above the 50% Fib retracement level of the upward move from the $0.3814 low to $0.4068 high.

  There is also a connecting bullish trend line forming with support at $0.4008 on the hourly chart of the XRP/USD pair. If there is a downside break below the trend line and the 100 hourly SMA, ripple price could accelerate losses below $0.3950. The next major support is near the $0.3850 level, below which there is a risk of more losses towards the $0.3750 level.

  On the upside, an immediate resistance is near the $0.4070 level. If there is an upside break above $0.4070, the price could rise towards the next major resistance near $0.4140. Any further gains is likely to push the price towards the $0.4200 and $0.4220 resistance levels.

  

  Looking at the chart, ripple price is clearly trading in a broad range and seems to be preparing for the next break either above $0.4070 or below $0.4000. If it fails to continue higher, there are chances of sharp declines below $0.3950 and $0.3900. Conversely, a close above $0.4100 might improve the market sentiment.

  Technical Indicators

  Hourly MACD – The MACD for XRP/USD is slowly gaining pace in the bullish zone.

  Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards the 50 level.

  Major Support Levels – $0.4000, $0.3920 and $0.3850.

  Major Resistance Levels – $0.4070, $0.4140 and $0.4200.

  The post Bitcoin Touched $12K While Ripple Price (XRP) Is Still Consolidating appeared first on NewsBTC.

  
  
  source https://www.tokentalk.co/NewsBTC/bitcoin-touched-12k-while-ripple-price-xrp-is-still-consolidating-5d1d7ab10bc9298636cf13e5