Ripple is currently consolidating below the $0.1900 resistance against the US Dollar. XRP price must settle above $0.1950 and the 100 SMA (H4) to start a strong rally in the near term.
- Ripple price is slowly moving higher after testing the $0.1850 support against the US dollar.
- The price is still trading well below $0.1920 and the 100 simple moving average (4-hours).
- There was a break above a major bearish trend line with resistance near $0.1890 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
- The pair must surpass the $0.1920 and $0.1950 resistance levels to start a fresh increase.
Ripple Price Facing Uphill Task
This past week, ripple followed a bearish path below the $0.1950 pivot level. XRP price broke many important supports near the $0.1920 level to move into a bearish zone.
It tested the $0.1850 support and settled well below the 100 simple moving average (4-hours). It traded as low as $0.1848 and recently started an upside correction. There was a break above the $0.1880 resistance level.The bulls even pushed the price above the 23.6% Fib retracement level of the downward move from the $0.1986 high to $0.1848 low. Moreover, there was a break above a major bearish trend line with resistance near $0.1890 on the 4-hours chart of the XRP/USD pair.
Ripple price below $0.1900. Source:Ripple price is currently consolidating above the broken trend line and below $0.1900. The first major resistance is near the $0.1920 level and the 100 simple moving average (4-hours). The 50% Fib retracement level of the downward move from the $0.1986 high to $0.1848 low is also near $0.1917.