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.

Rajan Dhall, MSTA FX 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.

Additional levels

XRP/USD

Overview
Today last price	0.1949
Today Daily Change	0.0066
Today Daily Change %	3.51
Today daily open	0.1883

Trends
Daily SMA20	0.1886
Daily SMA50	0.182
Daily SMA100	0.2196
Daily SMA200	0.2313

Levels
Previous Daily High	0.19
Previous Daily Low	0.1822
Previous Weekly High	0.1962
Previous Weekly Low	0.1741
Previous Monthly High	0.2468
Previous Monthly Low	0.1129
Daily Fibonacci 38.2%	0.187
Daily Fibonacci 61.8%	0.1851
Daily Pivot Point S1	0.1837
Daily Pivot Point S2	0.179
Daily Pivot Point S3	0.1759
Daily Pivot Point R1	0.1915
Daily Pivot Point R2	0.1946
Daily Pivot Point R3	0.1993

Author

Rajan Dhall, MSTA

FX Daily

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

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XRP/USD 4-hour chart

Additional levels

XRP/USD

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