For the moment Ripple price has entered a minor bearish trend against the US Dollar and Bitcoin’s Market. However, XRP price must close successfully over the $0.2000 level to experience any further increase.
XRP/USD price Hurdle For Gain
In general the market had no major movement for the last two days as it did not for Ripple price too. The important psychological mark $0.2000 has not been cleared as there were no significant attempts. For the moment a correction and slow descending pattern is formed with the upward struggle at $0.1950 as the pair moved lower than the 100 SMA.
Very close and below the price is located to the 23.6% Fib retracement level of the recovery flow from $0.1500 to $0.1970. However, on the $0.1950 resistance mark a bearish trend is formed which in case of a break will deliver and open doors for further price increase and test of $0.2000. On the near term that particular mark is of most importance to clear.
A surging momentum would emerge in the case of a complete close above the $0.2000 as buyers would be welcoming the matter of fact and aiming the $0.2250. On contrary a spike lower could mean targeting $0.1733 which is at around 50% Fibonacci retracement level of the previous recovery increase ($0.1500 – $0.1970) which does represent a significant support. In conclusion price dips could be stopped at $0.1800 or $0.1750 so plan your trade/
- Hourly MACD – The MACD for XRP/USD has moved into the bearish zone.
- Hourly Relative Strength Index – The RSI for XRP/USD is now below 50 level.
- Support Level – $0.1800
- Resistance Level – $0.1950