January 27, 2020 Real Estate Publication

Ripple (XRP) Price Primed For Further Upsides

Ripple price is trading nicely above the $0.2180 pivot area against the US dollar.The price is likely to slowly rise towards the $0.2265 and $0.2300 resistance levels.There is a major bullish trend line forming with support near $0.2180 on the hourly chart of the XRP/USD pair (data source from Kraken).Ethereum is also rising, but it is struggling to clear the $150 and $152 resistance levels.Ripple price is back in a positive zone against the US Dollar and bitcoin. XRP price must climb above $0.2265 to continue higher in the near term.Ripple Price AnalysisEarlier this week, there was a sharp decline in ripple from the $0.2265 resistance area against the US Dollar. However, the price remained well bid above the $0.2100 support and recently started a fresh increase.The last swing low was near $0.2115 before the price climbed above the $0.2150 resistance. Moreover, there was a break above the $0.2180 resistance and the 100 hourly simple moving average.The recent rise was such that the price once again tested the $0.2265 resistance area. A swing high was formed near $0.2264 and the price is currently correcting lower. It broke the 23.6% Fib retracement level of the recent wave from the $0.2115 low to $0.2264 high.On the downside, there are many supports, starting with $0.2200 and the previous bearish trend line. Additionally, the 100 hourly simple moving average is positioned near the $0.2180 level.More importantly, there is a major bullish trend line forming with support near $0.2180 on the hourly chart of the XRP/USD pair. The trend line is close to the 50% Fib retracement level of the recent wave from the $0.2115 low to $0.2264 high.If there is a downside break below the trend line, ripple price could test the $0.2150 support area. Any further downsides may perhaps lead the price towards the $0.2100 support area.On the upside, an immediate resistance is near the $0.2250 level. Besides, the main resistance is near the $0.2265 level, above which the price is likely to climb towards the $0.2300 and $0.2320 resistance levels.Ripple Price Looking at the chart, ripple price is showing a few positive signs above the $0.2180 support level. Therefore, there are chances of another attempt to surpass the $0.2265 resistance. If the price fails again, it could dive back towards the $0.2100 support area.Technical IndicatorsHourly MACD – The MACD for XRP/USD is currently reducing its bullish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower and it could test the 50 level.Major Support Levels – $0.2180, $0.2150 and $0.2100.Major Resistance Levels – $0.2250, $0.2265 and $0.2300.

Related Posts

Do CoinJoin Mixes Really Require Equal Transaction Amounts for Privacy? Part Two: Knapsack

January 27, 2020

January 27, 2020

Although Satoshi Nakamoto’s white paper suggests that privacy was a design goal of the Bitcoin protocol, blockchain analysis can often...

How Payswap Can Confuse Blockchain Analysts, Benefiting Bitcoin Privacy for All

January 23, 2020

January 23, 2020

Although Satoshi Nakamoto’s white paper suggests that privacy was a design goal of the Bitcoin protocol, blockchain analysis can often...

2019 Saw Most Exchange Attacks Ever, With Hackers Becoming More Savvy

January 22, 2020

January 22, 2020

As cryptocurrency exchanges beef up their security to defend themselves against cyberattacks, hackers are responding in kind by amping up...

Video: Reviewing the Billfodl Multishard

January 17, 2020

January 17, 2020

Bitcoin Magazine reviewed the Billfodl Multishard, a two-of-three stainless steel recovery seed storage device that allows you to split your...

Review: HTC Exodus 1s, the Full Bitcoin Node Smartphone

January 17, 2020

January 17, 2020

When it launched during The Lightning Conference in October 2019, HTC’s Exodus 1s smartphone took on the ambitious mission of...

The Kindest Cut: Why the 2020 Bitcoin Halvening Is the Most Important Yet

January 16, 2020

January 16, 2020

In May of 2020, bitcoin will see its next halving: the reduction of the reward for successfully mining a block....

Remembering Tamás Blummer, Pioneering Bitcoin Developer

January 15, 2020

January 15, 2020

Tamás Blummer, a Bitcoin developer since 2012 and founder of several groundbreaking Bitcoin-focused projects, reportedly passed away on January 12,...

Bitcoin Researcher Drums Up Academic Interest in Erlay Protocol

January 15, 2020

January 15, 2020

In November 2019, Gleb Naumenko, co-author of the Erlay protocol and Bitcoin researcher at Chaincode Labs, came to London to...

Do CoinJoins Really Require Equal Transaction Amounts for Privacy? Part One: CashFusion

January 13, 2020

January 13, 2020

Although Satoshi Nakamoto’s white paper suggests that privacy was a design goal of the Bitcoin protocol, blockchain analysis can often...

Wasabi Wallet Launches #BitcoinIsSafe Campaign to Counter Erroneous Antivirus Detections

January 13, 2020

January 13, 2020

Recently, Wasabi Wallet users have reported multiple instances in which antivirus programs identify both Wasabi and the newly integrated Bitcoin...

On the Coast of El Salvador, Bitcoin Is Becoming the Standard

January 13, 2020

January 13, 2020

When Michael Peterson made a semi-permanent move to El Salvador, the California native’s motive was simple and, well, fittingly expected:...

Want to Learn About Bitcoin? Try Conference-Driven Development

January 10, 2020

January 10, 2020

Continuing our series on how to learn about Bitcoin and its more technical aspects, in this article, we will focus...

River Financial Wants to Be the Bitcoiner’s Charles Schwab

January 2, 2020

January 2, 2020

Ever since he read the Denationalization of Money by Friedrich Hayek in college, Alex Leishman, the co-founder and CEO of...

Hashing Ahead: A Look at Bitcoin Mining in 2020

December 30, 2019

December 30, 2019

The December 2019 report on the Bitcoin mining network from CoinShares Research, a division of the digital asset management firm,...

Op Ed: Pitching Bitcoin During the Holidays

December 24, 2019

December 24, 2019

It’s that time of year again! When you can’t decide whether to get a pumpkin spice or eggnog-flavored latte, and...