Ripple Price Analysis: XRP/USD recovery fails to break $0.20 resistance yet again
|- Ripple maintains a short-term uptrend despite the hurdle at $0.20.
- The technical levels are holding ground in the positive, further emphasizing a potential break above $0.20.
Ripple bulls have been intentional in their push for recovery from the recent lows at $0.1750. However, resistance at $0.20 has proved to be a hard nut to crack. In spite of the failure to break the $0.20 hurdle, XRP has maintained a short-term bullish trend.
At the time of writing, XRP/USD is trading at $0.1976 and hitting on the 50 SMA immediate resistance. Similarly, upward movement is forced to deal with the Bollinger Band 1-hour upper resistance as well. A break above $0.20 will come face to face with the resistance at the 100 SMA currently at $0.21096.
The MACD is almost crossing into the positive territory as a key indicator of a relatively strong bulls’ grip. The indicator also features a bullish cross, emphasizing the influence the bulls have over the price. It is apparent that Ripple only needs to reclaim $0.20 support to open the pathway to $0.30.
XRP/USD 1-hour chart
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