Price Analysis

XRP Faces a Strong Resistance at $0.1990 for a Persistent Bullish Crossover

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Ripple (XRP), at the press time, is trading at $0.193 and is supported by the short-term and medium-term MA. XRP against USD is trading better than the marked 52-week low at $0.1784. The price zone near $0.20 remains a goal at present as the price of Ripple is facing strict resistance as it pushes the price below $0.1990.

Ripple Price Analysis

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XRP/USD Chart By TradingView

Analyzing the 4-hourly movement of XRP to USD on Coinbase, we see that the coin has been on a downslide in the previous month. Important to note that after having faced a nosedive from $0.23, Ripple price is currently facing strict resistance at $0.1990. A breakout above the stated price zone can lead to a bullish crossover.

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The volume laid on the same 4-hourly chart is also seen having a fall as the coin has an almost flat movement in the past 10-12 days. The current price is supported by the short-term and medium-term MA i.e., the 10-day and 50-day daily moving averages. Alongside, we also see a gradual uptrend forming. The short-term and the medium-term moving average is placed inside the 20-day Bollinger Band, but the 200-day MA is still a goal to be achieved.

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The technical indicators laid to show that the MACD of the coin is running above zero but holds a bearish crossover as the signal line overrides the MACD line.

The RSI of the coin is at 53.60 and remains less volatile, which is even confirmed by the 20-day Bollinger Band, wherein the Bands are seen squeezing.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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