{"id":429950,"date":"2020-07-08T07:48:17","date_gmt":"2020-07-08T07:48:17","guid":{"rendered":"https:\/\/uniquehot.com\/?p=429950"},"modified":"2024-06-12T09:21:10","modified_gmt":"2024-06-12T09:21:10","slug":"ripple-xrp-surges-5-to-020","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple-xrp-surges-5-to-020\/","title":{"rendered":"Ripple (XRP) Surges 5%, But $0.20 Holds The Key For Larger Rally"},"content":{"rendered":"
Ripple rallied around 5% and it broke the key $0.1920 resistance against the US Dollar. XRP price is now testing the $0.2000 resistance, which holds the key for a larger upward move.<\/em><\/p>\n This past week, ripple formed a strong support above the $0.1720 level<\/a> against the US Dollar. XRP started a solid upward move from the $0.1687 swing low and broke many hurdles near $0.1820.<\/p>\n There was a break above the key $0.1900 resistance, opening the doors for more upsides. The pair spiked above the $0.1950 level and the 100-day simple moving average. Moreover, it broke the 50% Fib retracement level of the key downward move from the $0.2151 high to $0.1687 low.<\/p>\n The price ran into a major resistance zone at $0.2000. There is also a crucial declining channel forming with resistance near $0.2000 on the daily chart of the XRP\/USD pair.<\/p>\n <\/a><\/p>\n The channel resistance is close to the 61.8% Fib retracement level of the key downward move from the $0.2151 high to $0.1687 low. Therefore, an upside break above the $0.2000 level is must for more gains in the coming days.<\/p>\n If there is a daily close above $0.2000, the price could start another rally. The next key resistance is near the $0.2150 level, above which it could revisit the $0.2200 level.<\/p>\n If there is no upside break above the $0.2000 resistance zone, there is a risk of a bearish reaction. An initial support is near the $0.1900 level.<\/p>\n If ripple fails to stay above the $0.1900 level, the price is likely to resume its decline. In the mentioned case, it could revisit the $0.1820 level in the near term.<\/p>\n Technical Indicators<\/p>\n Daily MACD \u2013 The MACD for XRP\/USD is gaining momentum in the bullish zone.<\/p>\n Daily RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is currently well above the 55 level.<\/p>\n Major Support Levels \u2013 $0.1920, $0.1900 and $0.1820.<\/p>\n Major Resistance Levels \u2013 $0.2000, $0.2150 and $0.2200.<\/p>\n\n
Ripple Price Rally Facing Significant Hurdle<\/h2>\n
Ripple price tests $0.2000. Source: TradingView.com<\/a><\/pre>\n
Bearish Rejection in XRP<\/h2>\n