XRP Bulls Are Comfortable As Ripple Retracts From Key Resistance

The XRP bulls are getting comfortable as Ripple is up to close by 10% after breaking the $0.2000 resistance against the US dollar. However, the ripple XRP price had a hard time to gain strength above $0.2025 and is now correcting gains as we are reading further in the ripple xrp price news.

There was a huge sharp rally above the$0.2000 barriers but the XRP bulls failed to remain in control above this level. There was a key bullish trendline forming with a $0.1940 support on the hourly charts of the XRP/USD pair. The pair will easily find a decent buying interest close to the $0.1940 and the $0.1910 support levels.

Between the past three sessions, there was a sharp increase in BTC, Ethereum and the Ripple xrp price above the key hurdles. XRP gained traction and rallied to $0.1850 and $0.1880 resistance levels. There was also another successful close above the latter barrier and the 100 hourly simple moving average where the bulls were able to lead the price above the $0.2000 resistance area. There was also another spike above the $0.2040 level but the price didn’t manage to remain above the key $0.2025 pivot zone so another high is formed close to the $0.2055 and the price is correcting lower.

The Ripple XRP price traded below the $0.2000 support with a slight break below the 23.6% Fib retracement level of the recent surge from the $0.1763 to $0.2055 high while on the downside initial support is close the $0.1960 level. There is also another key bullish trend line forming close to the $0.1940 on the hourly charts of the XRP/USD pair. The 50% fib retracement level of the surge from the $0.1763 low to the $0.2055 high between the next key support level close to the $0.1910. Further dips from these levels could find a very strong buying interest close to the $0.1940 and the $0.1910 levels.

If ripple remains stable above the $0.1940 and the $0.1910 support levels, it could start another increase in the upcoming sessions while the initial resistance is close to the $0.2000 level and the main hurdles will be close to the $0.2025 level above which the bulls will aim a break above the $0.2055.