Ripple Shows Steady Rise Similar To BTC And ETH

Ripple shows a steady increase in the price from the $0.1680 support area against the US dollar and will likely rally to 3-5% similarly to the rise of Ethereum and Bitcoin.

The ripple xrp price is gaining bullish momentum slowly above the $0.1720 level against the US dollar and the bulls are aiming an upside break above the $0.1780 with a key bearish trend line forming a resistance near the $0.1760 on the hourly charts of the XRP/USD pair. The pair could also dip a few more levels but it still remains well supported close to the $0.1720 level.

There was a strong upward move in Bitcoin and Etheruem but Ripple didn’t manage to follow similarly as they did. The Ripple XRP price traded low to $0.1680 and increased back above the 100 hourly simple moving average and now Ripple shows a steady similar increase in the price. There was also another rise to the $0.1720 resistance level and the bulls managed to surpass the 50 percent Fib Retracement level from the recent decline from the $0.1784 to the $0.1680 low.

The price is still staying below the $0.1780 resistance are which is also a key bearish trend line that is forming with the resistance close to the $0.1760 on the charts of the XRP/USD pair. Ripple will be testing the trend line resistance at $0.1760 and the 76% fib retracement level of the decline to the $0.1784 high to the $0.1680 low which serves as a hurdle. There is a clear break above the trend line resistance and the bulls will make another attempt to clear the $0.1780 area. If they manage to do so, the Ripple XRP price will likely surge above the $0.1880 while the next major resistance level is close to the $0.2000 level.

If ripple fails again to reach the $0.1780 resistance which could correct lower. The initial support on the downside is close to the $0.1720 level and the 100 hourly simple moving average. The bearish break below the $0.1720 support and the 100 SMA could lead the price to go below $0.1700. The major support is getting close to the $0.1680 which is where the bears will aim a test of the $0.1620 support area in the near term.