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Ripple Price Analysis: XRP once again stalls at 0.20

  • Ripple trades 3.40% higher on Thursday as the cryptosphere receives another bounce.
  • 0.20 once again seems a major barrier as the price rejected the zone once again.
Ripple Price Analysis: XRP once again stalls at 0.20
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XRP/USD 4-hour chart

Ripple has moved higher as most of the crypto majors received a bid. Once again the gains were halted at the psychological 0.20 level. This is not the first time the pair found resistance at the zone as you can see on the chart below this is the 4th time the level has been tested. The bulls could still take control and take the level out but then the resistance zone of 0.2060 lies in wait.

Looking at the other technical indicators now, the price is still holding above both the 200 and 55 moving averages. The RSI has moved into bullish territory firmly above the 50 mid-ine and there is still space to move into the overbought zone. Lastly, looking at the volume indicator there is a red square around the spike seen today. This is an encouraging sign as any break higher accompanied with a rise in volume could indicate more momentum is to follow.

Ripple cant break 0.20

Additional levels

XRP/USD

Overview
Today last price0.1949
Today Daily Change0.0066
Today Daily Change %3.51
Today daily open0.1883
 
Trends
Daily SMA200.1886
Daily SMA500.182
Daily SMA1000.2196
Daily SMA2000.2313
 
Levels
Previous Daily High0.19
Previous Daily Low0.1822
Previous Weekly High0.1962
Previous Weekly Low0.1741
Previous Monthly High0.2468
Previous Monthly Low0.1129
Daily Fibonacci 38.2%0.187
Daily Fibonacci 61.8%0.1851
Daily Pivot Point S10.1837
Daily Pivot Point S20.179
Daily Pivot Point S30.1759
Daily Pivot Point R10.1915
Daily Pivot Point R20.1946
Daily Pivot Point R30.1993

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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