Claim $500Ripple (XRP) On The Move And Will Continue If It Breaks This Level
- XRP underwent a 4% price hike today as the cryptocurrency reaches the $0.196 level.
- The cryptocurrency has been increasing over the past 3-days after bouncing at rising trend line support.
XRP increased by 4% today which saw the price for the coin breaking above $0.19 again to reach the $0.196 level. The cryptocurrency is still yet to test the $0.20 level, however, on the Binance exchange, there was actually quite a huge price spike that saw the coin reach as high as $0.21 before dropping back beneath $0.20.
This could be an indication that XRP is about to break the strong resistance at $0.20 and begin a fresh new bull run moving forward.
The cryptocurrency has been slowly grinding higher over the past month after rebounding from the March market capitulation caused by the Coronavirus pandemic, however, it has been trapped by the $0.20 level and has still yet to overcome this resistance.
XRP Price Analysis
XRP/USD – Daily CHART – SHORT TERM
Market Overview
Analyzing the daily chart above, we can see XRP reaching support 3-days ago at the $0.18 level where it managed to rebound higher. The support here was provided by the rising support trend line that has been in action since the March market collapse.
We can also see the resistance at $0.20 which had caused problems for XRP in early April 2020.
Short term prediction: NEUTRAL
XRP remains neutral until it can break the resistance at $0.20, at which point, the market would turn bullish. It would need to drop beneath $0.18 before we can consider it to be bearish again.
The resistance at $0.2 is provided by a bearish .382 Fib Retracement level that is measured from the Feb high to the March low. Once this is broken, resistance will be expected $0.206 (100-days EMA), $0.2116, and $0.22. Above this, added resistance lies at $0.229 (bearish .5 Fib Retracement).
Toward the downside, the first level of support lies at the rising trend line. This is followed with added support at $0.184 (.236 Fib Retracement), $0.18, and $0.17 (.382 Fib Retracement).
Key Levels
Support:$0.19, $0.184, $0.18, $0.1776, $0.1667, $0.16, $0.15, $0.14, $0.127, $0.12, $0.116, $0.10, $0.097, $0.08.
Resistance: $0.20, $0.206, $0.2116, $0.22, $0.229, $0.238, $0.24, $0.25, $0.251.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- FOMC Minutes: Most Fed Officials Say Further Rate Cuts Are ‘Appropriate’ If Inflation Declines
- Geopolitical Tensions Threaten Crypto Market as Russia Promises Retaliation Against Ukraine
- Bitcoin Rises as Long-Term Holders Stop Selling: Will BTC End 2025 In The Green?
- Bitcoin News: David Beckham-Backed Prenetics Halts Treasury Plans Amid ‘Crypto Winter’ Concerns
- Grayscale Files With SEC To Convert ‘GTAO’ Trust Into First Bittensor ETF
- Shiba Inu Price Prediction: Will SHIB Show Golden Cross Signal in 2026?
- Pi Network Price Prediction as Demand Slips Ahead of the 136m Unlock
- Why Bitcoin, Ethereum, XRP, and ADA Prices Are Falling Today
- Is XRP Price Preparing for Trend Reversal as ETF Inflows Extend to a 7th Straight Week?
- Binance Coin Price Risks Crash to $700 as Key BSC Metric Plunges 80%
- SUI Price Forecast: What’s Next for SUI in 2026 After $78.9M Token Unlocks?
