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Ripple Price Analysis: XRP is showing signs of breaking higher

  • Ripple trades 4.34% higher as the cryptoshpere received a boost on Thursday.
  • XRP/USD broke a key trendline to the upside and now has consolidated around 0.19.
Ripple Price Analysis: XRP is showing signs of breaking higher
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XRP/USD 1-hour chart

Ripple broke higher earlier on in the session and broke the black trendline on the hourly chart below. Now the rest resistance point up is the blue line at 0.1960, beyond that, the psychological 0.20 level is next up. 

Looking at the chart, the red 200 period moving average seemed to have provided some resistance and halted the move. Since then the price has just move below the 0.19 area where it looks like it might try and consolidate. The RSI briefly moved into overbought territory but has now moved back below. The move higher was accompanied by a rise in volume so it looks like the break was legit. Now there needs to be another bout of buying strength to test the resistance zones above.

Ripple break higher

Additional levels

XRP/USD

Overview
Today last price0.1891
Today Daily Change0.0085
Today Daily Change %4.71
Today daily open0.1806
 
Trends
Daily SMA200.1833
Daily SMA500.1883
Daily SMA1000.2212
Daily SMA2000.2334
 
Levels
Previous Daily High0.19
Previous Daily Low0.1802
Previous Weekly High0.2053
Previous Weekly Low0.1767
Previous Monthly High0.2468
Previous Monthly Low0.1129
Daily Fibonacci 38.2%0.1839
Daily Fibonacci 61.8%0.1862
Daily Pivot Point S10.1772
Daily Pivot Point S20.1738
Daily Pivot Point S30.1674
Daily Pivot Point R10.187
Daily Pivot Point R20.1934
Daily Pivot Point R30.1968

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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