{"id":451489,"date":"2020-12-04T07:28:10","date_gmt":"2020-12-04T07:28:10","guid":{"rendered":"https:\/\/ktsl888.com\/?p=451489"},"modified":"2024-06-11T10:03:04","modified_gmt":"2024-06-11T10:03:04","slug":"ripple-xrp-is-primed-for-rally-065","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ripple\/ripple-xrp-is-primed-for-rally-065\/","title":{"rendered":"Charted: Ripple (XRP) is Primed For a Rally And Only 1 Thing is Holding it Back"},"content":{"rendered":"
Ripple started a downside correction below $0.6500 against the US Dollar. XRP price is likely preparing for the next major move, similar to bitcoin and ETH.<\/em><\/p>\n After trading as low as $0.4566, ripple\u2019s XRP price started a fresh increase above $0.5500. Bitcoin<\/a> price climbed back above $19,000 and ETH<\/a> broke the $600 resistance.<\/p>\n XRP is now struggling to clear the $0.6350 and $0.6500 resistance levels. The last swing high was formed near $0.6896 before the price declined below $0.6000. It tested the 50% Fib retracement level of the upward move from the $0.4566 low to $0.6896 high.<\/p>\n The price remained well bid above $0.5750 and it recovered higher. It is now trading well above the $0.6000 support and the 100 simple moving average (4-hours).<\/p>\n <\/a><\/p>\n More importantly, there is a major contracting triangle forming with resistance at $0.6340 on the 4-hours chart of the XRP\/USD pair. The triangle support is close to the 61.8% Fib retracement level of the upward move from the $0.4566 low to $0.6896 high.<\/p>\n If there is an upside break above the triangle resistance, the price could attempt to clear the $0.6500 resistance level. A successful close above the $0.6500 resistance could lift the price towards the $0.7000 resistance level in the next 3-4 days.<\/p>\n If ripple fails to surpass the $0.6340 and $0.6500 resistance levels, it could slowly move down. An initial support on the downside is near the $0.6000 level.<\/p>\n The first major support is now forming near the $0.5750 level. The main support is near the $0.5500 level, below which the price may even struggle to stay above the 100 simple moving average (4-hours).<\/p>\n Technical Indicators<\/p>\n 4-Hours MACD \u2013 The MACD for XRP\/USD is losing pace in the bearish zone.<\/p>\n 4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is currently just below the 50 level.<\/p>\n Major Support Levels \u2013 $0.6000, $0.5750 and $0.5500.<\/p>\n Major Resistance Levels \u2013 $0.6340, $0.6500 and $0.7000.<\/p>\n","protected":false},"excerpt":{"rendered":" Ripple started a downside correction below $0.6500 against the US Dollar. XRP price is likely preparing for the next major move, similar to bitcoin and ETH. Ripple corrected lower, but it remained stable above $0.6000 against the US dollar. The price is struggling to clear $0.6500, but it is well above the 100 simple moving average (4-hours). There is a major contracting triangle forming with resistance at $0.6340 on the 4-hours chart of the XRP\/USD pair (data source from Kraken). The pair is likely to surge above $0.6500 and $0.6800 as long as it is above the $0.5500 support. Ripple\u2019s XRP Price is Holding Key Supports After trading as low as $0.4566, ripple\u2019s XRP price started a fresh increase above $0.5500. Bitcoin price climbed back above $19,000 and ETH broke the $600 resistance. XRP is now struggling to clear the $0.6350 and $0.6500 resistance levels. The last swing high was formed near $0.6896 before the price declined below $0.6000. It tested the 50% Fib retracement level of the upward move from the $0.4566 low to $0.6896 high. The price remained well bid above $0.5750 and it recovered higher. It is now trading well above the $0.6000 support and the 100 simple moving average (4-hours). Source: XRPUSD on TradingView.com More importantly, there is a major contracting triangle forming with resistance at $0.6340 on the 4-hours chart of the XRP\/USD pair. The triangle support is close to the 61.8% Fib retracement level of the upward move from the $0.4566 low to $0.6896 high. If there is an upside break above the triangle resistance, the price could attempt to clear the $0.6500 resistance level. A successful close above the $0.6500 resistance could lift the price towards the $0.7000 resistance level in the next 3-4 days. Downsides Break in XRP? If ripple fails to surpass the $0.6340 and $0.6500 resistance levels, it could slowly move down. An initial support on the downside is near the $0.6000 level. The first major support is now forming near the $0.5750 level. The main support is near the $0.5500 level, below which the price may even struggle to stay above the 100 simple moving average (4-hours). Technical Indicators 4-Hours MACD \u2013 The MACD for XRP\/USD is losing pace in the bearish zone. 4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is currently just below the 50 level. Major Support Levels \u2013 $0.6000, $0.5750 and $0.5500. Major Resistance Levels \u2013 $0.6340, $0.6500 and $0.7000.<\/p>\n","protected":false},"author":67,"featured_media":451491,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[10972,78763],"class_list":["post-451489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n\n
Ripple\u2019s XRP Price is Holding Key Supports<\/h2>\n
Source: XRPUSD on TradingView.com<\/a><\/pre>\n
Downsides Break in XRP?<\/h2>\n