Ripple Price (XRP) Sighting Upside Break, Dips Remain Supported @newsbtc #Analysis #Technical #Ripple #xrp

• Ripple price made another attempt to settle above the key $0.2650 resistance against the US dollar.
• The price is currently correcting, but it remains well supported near the $0.2600 level.
• There ...
  • Ripple price made another attempt to settle above the key $0.2650 resistance against the US dollar.
  • The price is currently correcting, but it remains well supported near the $0.2600 level.
  • There is a breakout pattern forming with resistance near the $0.2650 level on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price is likely to climb higher sharply once it clears the $0.2650 and $0.2665 resistance levels.

  Ripple price is trading with a positive bias against the US Dollar, while bitcoin surpassed $10,500. XRP price could accelerate gains once it settles above the $0.2650 resistance.

  Ripple Price Analysis

  Recently, there was a slow and steady rise in XRP price above $0.2550 against the US Dollar. Moreover, the price even settled above the $0.2600 resistance and the 100 hourly simple moving average. However, the bulls seem to be struggling to gain momentum above the $0.2650 resistance area. In the past three sessions, the price made more than two attempts to settle above $0.2650, but it failed.

  The last swing high was formed near $0.2673 before the price started a downside correction. It traded below the $0.2630 level plus the 50% Fib retracement level of the last leg from the $0.2585 low to $0.2673 high. However, there are a few decent supports forming near $0.2620 and $0.2600. Additionally, the price is testing the 61.8% Fib retracement level of the last leg from the $0.2585 low to $0.2673 high.

  More importantly, there is a breakout pattern forming with resistance near the $0.2650 level on the hourly chart of the XRP/USD pair. If there is a downside break below the $0.2620 level, the price might find support near $0.2600. If there are more downsides, the next key support is near the $0.2580 level since it coincides with the 100 hourly simple moving average.

  Conversely, if there is an upside break above $0.2650 and $0.2665, the price could accelerate gains. The next key resistance is near the $0.2700 and $0.2720 levels. Above $0.2720, the price will most likely climb towards the $0.2800 resistance area in the near term.

  

  Looking at the chart, ripple price is currently trading nicely above the $0.2620 and $0.2600 supports. Having said that, the price must settle above the $0.2650 resistance to gain bullish momentum. If it continues to struggle, there are chances of a downside reaction below the $0.2600 support level in the coming sessions.

  Technical Indicators

  Hourly MACD – The MACD for XRP/USD is slowly gaining momentum in the bearish zone.

  Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently struggling to stay above the 50 level.

  Major Support Levels – $0.2620, $0.2600 and $0.2580.

  Major Resistance Levels – $0.2650, $0.2665 and $0.2720.

  The post Ripple Price (XRP) Sighting Upside Break, Dips Remain Supported appeared first on NewsBTC.

  
  
  source https://www.tokentalk.co/NewsBTC/ripple-price-xrp-sighting-upside-break-dips-remain-supported-5d6f37b1b98396a4770c9797