{"id":109011,"date":"2021-01-21T09:16:20","date_gmt":"2021-01-21T09:16:20","guid":{"rendered":"https:\/\/precoinnews.com\/?p=109011"},"modified":"2021-01-21T09:16:20","modified_gmt":"2021-01-21T09:16:20","slug":"charted-ripple-xrp-signaling-bullish-breakout-why-it-could-retest-0-35","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/charted-ripple-xrp-signaling-bullish-breakout-why-it-could-retest-0-35\/","title":{"rendered":"Charted: Ripple (XRP) Signaling Bullish Breakout, Why It Could Retest $0.35"},"content":{"rendered":"<p><em>Ripple is holding gains above $0.2800 against the US Dollar. XRP price is likely to accelerate higher towards $0.3500 once it clears the $0.3100 resistance zone.<\/em><\/p>\n<ul>\n<li>Ripple is showing a few positive signs above $0.2800 and $0.2680 against the US dollar.<\/li>\n<li>The price is facing a major hurdle at $0.3100, but it is above the 100 simple moving average (4-hours).<\/li>\n<li>There is a key contracting triangle forming with resistance near $0.3000 on the 4-hours chart of the XRP\/USD pair (data source from Kraken).<\/li>\n<li>The pair is likely to accelerate higher towards $0.3500 once it clears $0.3100.<\/li>\n<\/ul>\n<h2>Ripple&rsquo;s XRP Price is Showing Positive Signs<\/h2>\n<p>There was a sharp increase in ripple&rsquo;s XRP price after it broke the $0.3000 resistance. The price climbed above the $0.3100 and $0.3200 resistance levels, but it struggled near the $0.3300 level.<\/p>\n<p>A high was formed near $0.3302 before the price corrected lower. It broke the $0.3100 support and even spiked below $0.3000. However, the bulls defended the $0.2800 zone and the 100 simple moving average (4-hours). A low is formed near $0.2811 and the price is currently consolidating in a range.<\/p>\n<p>It recovered above the 23.6% Fib retracement level of the downward move from the $0.3302 high to $0.2811 low. There is a key contracting triangle forming with resistance near $0.3000 on the 4-hours chart of the XRP\/USD pair.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/01\/Ripple-XRP-4.png\"><\/p>\n<p>Source: XRPUSD on TradingView.com<\/p>\n<p>The triangle resistance is close to the 50% Fib retracement level of the downward move from the $0.3302 high to $0.2811 low. A successful break above the triangle resistance may possibly call for a break above the $0.3100 resistance.<\/p>\n<p>A successful close above $0.3000 and $0.3100 could open the doors for a steady increase. The next hurdle could be $0.3300, above which the price could test $0.3500.<\/p>\n<h2>Fresh Dip in XRP?<\/h2>\n<p>If ripple fails to break the $0.3000 and $0.3100 resistance levels, it could correct lower. The first major support is near the $0.2880 zone and the 100 SMA (H4).<\/p>\n<p>A downside break below the triangle trend line, $0.2850, and the 100 SMA (H4) could accelerate losses. In the stated case, the price could decline sharply towards the $0.2600 support zone in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-Hours MACD &ndash; The MACD for XRP\/USD is showing positive signs in the bullish zone.<\/p>\n<p>4-Hours RSI (Relative Strength Index) &ndash; The RSI for XRP\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels &ndash; $0.2880, $0.2850 and $0.2600.<\/p>\n<p>Major Resistance Levels &ndash; $0.3000, $0.3100 and $0.3500.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/xrp\/ripple-xrp-signaling-bullish-breakout-035\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple is holding gains above $0.2800 against<\/p>\n","protected":false},"author":3,"featured_media":109010,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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