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    Ripple Price Analysis: XRP/USD Resuming Uptrend, Eyes $0.225

    Ripple price rallied this week more than 10% to trade above $0.2200. XRP to USD corrected lower, but it is now resuming its upward move above the $0.2150 resistance.

    Key Takeaways: XRP/USD

    • Ripple price is trading in a bullish zone above the $0.2100 pivot level against the US Dollar.
    • XRP/USD is following a crucial bullish trend line with support near $0.2070 on the 2-hours chart (data feed from Bitstamp)
    • Bitcoin price jumped recently and traded above the $8,400 resistance area.

    Ripple Price Analysis

    After forming a support base near $0.1900, ripple price started a strong rise above $0.2050. XRP to USD broke many hurdles near $0.2070 and $0.2100 to enter into a positive zone.

    Ripple Price
    Ripple Price

    Looking at the 2-hours chart, ripple price even settled above the $0.2100 support level and the 50 simple moving average (2-hours, purple). Finally, there was a break above the $0.2220 resistance area and the price traded to a new 2020 high at $0.2254.

    Recently, there was a sharp downside correction from the $0.2250 resistance area. Ripple price declined below the $0.2200 and $0.2150 support levels.

    It even spiked below the $0.2100 level, but the $0.2070 area acted as a decent support. A low is formed near $0.2069 and the price is currently rising again. It tested the 50% Fib retracement level of the recent slide from $0.2254 to $0.2069.

    A clear break above the $0.2180 resistance area is needed for more gains in the coming sessions. The $0.2180 level represents the 61.8% Fib retracement level of the recent slide from $0.2254 to $0.2069.

    The next major hurdle above the $0.2180 level is at $0.2220, above which the bulls are likely to aim the $0.2250 resistance area.

    Conversely, the price might struggle to break the $0.2180 resistance. On the downside, there are many supports near the $0.2100 area. Moreover, ripple is following a crucial bullish trend line with support near $0.2070 on the 2-hours chart.

    Overall, ripple price is trading with a positive bias above $0.2100 and $0.2070. Therefore, there are chances of more gains above $0.2180 and $0.2220.

    Live Ripple (XRP) Price:

    1 XRP/USD =$0.2307 change ~ -0.34%

    Coin Market Cap

    $9.99 Billion

    24 Hour Volume

    $204.48 Million

    24 Hour VWAP

    $0

    24 Hour Change

    $-0.0008

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    Avatar
    Aayush J
    Aayush is a Senior Cryptocurrency Strategist and Forex Expert who has a decorated history of over a decade in FinTech Markets and IT industries. As a financial markets contributor and observer, his primary focus is on specializing and sharpening his skillset inside the Technical Analysis arena and is well known for his informative and entertaining analytical skills inside the Bitcoin, Etheruem and crypto asset markets.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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