bitcoinBTC/USD
$ 9,607.65 2.74%
ethereumETH/USD
$ 247.04 6.00%
rippleXRP/USD
$ 0.272600 10.94%
tetherUSDT/USD
$ 0.999189 0.14%
bitcoin-cashBCH/USD
$ 379.00 12.06%
litecoinLTC/USD
$ 69.80 8.37%
eosEOS/USD
$ 4.15 8.74%
binancecoinBNB/USD
$ 21.93 7.48%
bitcoin-cash-svBSV/USD
$ 268.07 12.09%
stellarXLM/USD
$ 0.068524 8.60%
cardanoADA/USD
$ 0.057804 9.19%
tronTRX/USD
$ 0.020820 9.54%
moneroXMR/USD
$ 82.27 5.93%
iotaMIOTA/USD
$ 0.265911 4.44%
dashDASH/USD
$ 104.29 10.95%
neoNEO/USD
$ 13.71 7.78%
zcashZEC/USD
$ 58.27 4.04%

Ripple (XRP) Price Won’t Go Down Quietly: Risk of Bounce Grows

Ripple is facing hurdles near the $0.2200 resistance against the US Dollar, similar to bitcoin near $8,200. XRP price is declining, but the bulls are likely to protect $0.2080 and $0.2070.

Ripple price is correcting lower after it failed to surpass the $0.2200 resistance against the US dollar.
The price remains well supported on the downside near the $0.2080 and $0.2070 levels.
Recently, there was a break below a connecting bullish trend line with support at $0.2125 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could dip towards the $0.2080 support before it bounces back above $0.2125 and $0.2150.

Ripple Price Remains Supported
After forming a support base near $0.2000, ripple started a steady rise above $0.2100 against the US Dollar. Both bitcoin and Ethereum climbed higher, which helped XRP in climbing towards the $0.2200 resistance area.
However, the bulls failed to push the price above the $0.2200 resistance area. A high was formed near $0.2198 before the price started a downside correction. It broke the $0.2160 and $0.2150 support levels.
Besides, there was a break below a connecting bullish trend line with support at $0.2125 on the hourly chart of the XRP/USD pair. Ripple price is now trading below the 23.6% Fib retracement level of the upward move from the $0.2003 low to $0.2198 high.
Ripple Price
On the downside, there are many supports, starting with $0.2100. It represents the 50% Fib retracement level of the upward move from the $0.2003 low to $0.2198 high.
The next key supports are near $0.2080, $0.2070, and the 100 hourly simple moving average. Therefore, XRP is likely to find a strong buying interest if it dips towards the $0.2080 area in the near term.
If there is a downside break and close below $0.2070, it could invalidate the bullish view and ripple is likely to dive towards the $0.2000 support.
Hurdles On The Upside For XRP
The first resistance for XRP is near the $0.2125 area, above which the price is likely to rise above the $0.2150 resistance area. The main resistance is near the $0.2200 level. A successful daily close above the $0.2200 resistance may perhaps open the doors for a fresh rally towards the $0.2320 level.
Looking at the chart, ripple price is correcting lower, but the bulls are still active above $0.2080 and $0.2070. Only a close below $0.2070 might decrease the chances of a break above $0.2200 in the coming sessions.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level.
Major Support Levels – $0.2100, $0.2080 and $0.2070.
Major Resistance Levels – $0.2125, $0.2150 and $0.2200.
Ripple (XRP) Price Won’t Go Down Quietly: Risk of Bounce Grows was last modified: January 13th, 2020 by Aayush Jindal The post appeared first on NewsBTC.

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