Ripple Price Moves Above $0.22: Further Gains Are Likely

The cryptocurrency news now show that the Ripple price moves above the $0.22 mark and is ready to pursue new territories as the day progresses. XRP is likely to accelerate higher near $0.2250 and $0.2300 unless the bulls lose control and the price of the coin drops below $0.2080.

There was a break below the $0.2200 support and the 100 hourly simple moving average. It even helped XRP trade below the 23.6% Fib retracement level of the upward move from the $0.2074 low to the $0.2224 high.

On the downside, the XRP news today show that the $0.2150 support area is still there, acting as a decent buy zone. It is very close to the 50% Fib retracement level of the upward move from the $0.2074 low to the $0.2224 high.

Currently, the price of Ripple is rising and approaching the 100 hourly SMA at $0.2190. More importantly, there is a key bearish trend line forming with resistance near the $0.2190 on the hourly chart of the XRP/USD pair.

If we see an upside break above $0.2190 and $0.2200, the price of Ripple could make another attempt to surpass the $0.2220 resistance level. Now, the bulls need to gain strength above $0.2220 and if they do, the XRP price is likely to continue higher towards the $0.2320 and $0.2350 resistance levels in the coming sessions.

If the Ripple price moves above $0.2300, we can see a lot of gains and an upward momentum. However, this scenario would be also triggered by a market-wide crypto surge. On the other hand the first major support for XRP is near the $0.2100 level, below which the $0.2080 support could act as a strong buy zone. If the bears succeed in clearing the $0.2080 support, we could risk a drop towards $0.2000.

• Hourly MACD – The MACD for XRP/USD is now gaining momentum in the bullish zone.
• Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is right now well above the 50 level.
• Major Support Levels – $0.2150, $0.2100 and $0.2080.
• Major Resistance Levels – $0.2200, $0.2220 and $0.2350.

In the other altcoin news, there are not big or drastic movements upside or downside. The only coins that caught our attention this morning are Bitcoin Cash (BCH) with its 1.26% rise to $249 as BCH struggles to clear the $250 mark. In the top 20, Crypto.com Coin (CRO) is also getting a nice traction of 2% on the upside.