Key Barriers For Ripple’s XRP Lead To Reverse Towards $0.165

The key barriers for ripple could lead the reverse trend towards the $0.1650 and the Ripple XRP price is correcting higher from the $0.1810 against the US dollar while being up by more than 2% against the US dollar. Let’s find out more in the following Ripple XRP news.

There are still a few hurdles close to the $0.1900 level and the 100 hourly simple moving average, while there are key barriers, are forming a bearish trend line close to the resistance level at $0.1890 on the hourly charts of the XRP/USD pair. The pair could also struggle to remain bullish above the $0.1890 resistance level.

There were more losses yesterday for the Ripple XRP price below the $0.1850 level and the price traded to a monthly low of $0.1812 while correcting higher at the moment. The price is now trading within the 23.6% fib retracement level from the recent drop of $0.1965 high to the $0.1812 low. The Ripple XRP price is now facing very strong resistance at the $0.1890 resistance and 100 hourly simple moving average while the 50% fib retracement level of the recent drop of $0.1965 to $0.1812 low serves as a major hurdle for the bulls. There is a key connecting bearish trend line that is forming close to the $0.1890 on the hourly charts of the XRP/USD pair. The pair will likely struggle close to the $0.1890 and $0.1900 levels in the near term.

Moving into the positive zone, the bulls will have to gain pace above the $0.1920 level and the next key resistance level to the $0.1965 swing high after which the price could speed up towards the $0.2000 level. If Ripple fails to climb above the 100 hourly SMA or the $0.1900 resistance there are chances of anther fresh decline in the upcoming sessions. The initial support on the downside could reach the $0.1850 level and the main support will be close to the same level below which the bears are likely to shoot and test the $0.1650 level in the close term.

The hourly MACD charts for XRP//USD is struggling to gain momentum in the bullish territory. The hourly RSI for the pair is dropping below the 50 levels while the major support levels are $0.1850 and $0.1810.