Ripple XRP Price Analysis: 0.20 has once again proved to be a good support for XRP/USD
- The price of Ripple's XRP is 0.20% higher on Thursday.
- The chart shows the pair is still in a consolidation mode.
XRP/USD 4-hour chart
On the four hour chart below the price has started to make some higher highs and higher lows. The key level is the wave high of 0.2146, if this level gets broken then the uptrend might resume.
The price has recently moved above the 200 Simple Moving Average and the 55 Exponential Moving Average. The arrow also represents a rejection of the downside at the apex of the triangle which is bullish.
The indicators are both turning bullish. The MACD looks to be turning to the upside as the histogram is approaching the zero line and the signal lines look to be moving higher too. The Relative Strength Index is also above the mid-line and there is some space to move higher.
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Additional levels
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.
