Ripple prepares for liftoff if XRP manages to clear the $0.255 level as it showed positive signs above this level. XRP could start a strong rally if it clears the $0.2550 resistance zone so let’s read more in today’s XRP news.
The price is now trading well above the $0.2500 and the 100 simple moving average with a crucial declining channel forming close to the $0.2540 on the 4-hour charts of the pair. The pair could rally 8-10% if it clears the key $0.2550 resistance in the near term. After the strong upward move in Bitcoin, there was a strong increase from the $0.2440 support as XRP broke the $0.2480 and the $0.2550 resistance levels to move into the positive zone.
The price broke the 23.6% fib retracement level from the recent decline from the $0.2639 high to the $0.2439 low. XRP is now trading well above the $0.2500 and the 100 simple moving average as on the upside, it is facing a major hurdle close to the $0.2540 and the $0.2550 levels. There’s also a crucial declining channel forming with the resistance level close to the $0.2540 on the 4-hour chart of the XRP/USD pair. The resistance channel is close to the 50% fib retracement level from the recent decline at $0.2639 high to $0.2439 low. The pair will start increasing if the price clears the $0.2540 and $0.2550 resistance level. The next major resistance is getting near the $0.2580 level.
A clear break above the $0.2580 could open the doors for the sharp increase at $0.2600. The next major resistance for the bulls could be close to the $0.2620 above which Ripple’s XRP could speed up higher at $0.2700 in the near-term. If Ripple doesn’t manage to clear the $0.2540 and the $0.2550 resistance levels with a risk of another bearish breakdown. The first key support is getting close to the $0.2500 level and the 100 simple moving average. Ripple prepares for liftoff with the next major support getting near the connecting bullish trend line on the charts at $0.2460. The successful break below the trendline and support that could lead the price at $0.2400 zone. On the 4-hour MACD for the pair, we could see a move in the bullish zone. The 4-hour RSI for the pair is struggling to settle above the 50 levels with major support levels at $0.2500 and $0.2460.
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