Ripple Price Analysis: Finally the 0.20 level is broken!
|- Ripple trades 4.7% higher on the session as sentiment break higher.
- The price has now conclusively broken the 0.20 psychological level.
XRP/USD 4-hour chart
Ripple has had a great session after a few days of desperately thin price action. The bulls have managed to take the price to reach a high of 0.2106. The next resistance is very close by at the purple horizontal line (0.2131). The price is also trading about two key moving averages. The 200 and 55 moving averages are both under the current price point and could provide support if the market pulls back. In addition to this, there is also a trendline in place that's if the 0.20 gets broken again to the downside.
Looking at the indicators, the relative strength index indicator has also moved into the overbought zone. This indicates there could be a short term pullback, if the pullback is deeper than expected then the orange support line at 0.1750 could be the level to watch. For now, all eyes are on higher levels and the bulls remain in charge.
 (9)-637236914533786293.png){kind=link}
Additional levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.