Ripple is up more than 5% and it settled nicely above the $0.2000 pivot level against the US Dollar. XRP price is currently rising and it could continue to rise towards $0.2120.
- Ripple is slowly gaining bullish momentum above the $0.2000 resistance against the US dollar.
- The price is trading in a positive zone above $0.2020 and the 100 hourly SMA.
- There is a rising channel forming with resistance near $0.2065 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair could start another rally if there is a successful close above the $0.2065 resistance.
Ripple Price Could Extend Rally Above $0.2100
After consolidating above the $0.1820 support for a few sessions, ripple started a strong rally. XRP price broke many resistances near $0.1920 and $0.1950 to move into a positive zone.
There was also a close above the main $0.2000 resistance. The price traded to a new monthly high at $0.2064 and it is currently trading well above the 100 hourly simple moving average. Recently, there was a downside correction, but the bulls protected the $0.2000 support area.XRP price settles above $0.2000. Source:It seems like there is a rising channel forming with resistance near $0.2065 on the hourly chart of the XRP/USD pair. If there is an upside break above the $0.2065 resistance zone, the price could continue to rise. The next key resistance is near $0.2100, followed by the $0.2120 barrier.
Any further gains above $0.2120 could open the doors for a larger upward move above the $0.2150 and $0.2185 levels in the coming sessions.