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Ripple Price Analysis: Is a test of 0.20 on the cards?

  • Ripple is trading 8.3% higher as the whole cryptosphere moves positively on Monday.
  • The price has converged into a nice channel formation and 0.20 looks like its the next target.
Ripple Price Analysis: Is a test of 0.20 on the cards?
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XRP/USD 4-hour chart

The price of Ripple has exploded today and the price is on nearly a 20-hour bullish streak. The 0.1872 resistance zone looked like a tough one to break but the bulls managed to move through it like a hot knife through butter. Now the 0.20 psychological zone is in the sights of the crypto bulls. The 55 4-hour EMA looks like its about to cross the 200 4-hour SMA too which could be a bullish sign too. 

Looking at the indicators now the RSI has moved into a very positive zone but is looking oversold. This could indicate the price could pullback in the short term to push higher later on. The volume has also increased as the price has moved higher which is a very bullish sign. If there is a pullback the 0.1872 previous resistance might be used as a support zone so it could be a level to watch moving forward.

Ripple price channel

Additional levels

XRP/USD

Overview
Today last price0.1941
Today Daily Change0.0146
Today Daily Change %8.13
Today daily open0.1795
 
Trends
Daily SMA200.1668
Daily SMA500.2057
Daily SMA1000.2217
Daily SMA2000.2375
 
Levels
Previous Daily High0.1824
Previous Daily Low0.1767
Previous Weekly High0.1871
Previous Weekly Low0.162
Previous Monthly High0.2468
Previous Monthly Low0.1129
Daily Fibonacci 38.2%0.1789
Daily Fibonacci 61.8%0.1802
Daily Pivot Point S10.1766
Daily Pivot Point S20.1738
Daily Pivot Point S30.1709
Daily Pivot Point R1 0.1824
Daily Pivot Point R2 0.1853
Daily Pivot Point R30.1882

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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