Ripple Price Analysis: XRP finds short term resistance at 0.20

Ripple trades around half a percent higher on Tuesday but there is some resistance at the 0.20 area.
There is a nice channel forming on the intraday charts and the price looks like its turning lower.

Rajan Dhall, MSTA FX Daily

XRP/USD 4-hour chart

Ripple has been moving in a bullish channel for a while now and it seems like 0.20 was just a step too far. Analysing the 4-hour chart you can see the moving averages have crossed over in a bullish fashion. There has also been some good volume on the uptrend and the RSI indicator moved into bullish territory. If this is where the price starts to turn lower then the red support zone of 0.1835 could be important.

Away from this, the black line which is the bottom of the channel could act like support. If that level breaks then the green line just above 0.16 is the next support zone. The market is in a competitive movement of higher highs and higher lows. But for the trend to continue 0.20 needs to be broken.

Additional levels

XRP/USD

Overview
Today last price	0.1993
Today Daily Change	0.0008
Today Daily Change %	0.40
Today daily open	0.1985

Trends
Daily SMA20	0.1694
Daily SMA50	0.2038
Daily SMA100	0.2217
Daily SMA200	0.2371

Levels
Previous Daily High	0.1987
Previous Daily Low	0.1795
Previous Weekly High	0.1871
Previous Weekly Low	0.162
Previous Monthly High	0.2468
Previous Monthly Low	0.1129
Daily Fibonacci 38.2%	0.1914
Daily Fibonacci 61.8%	0.1868
Daily Pivot Point S1	0.1857
Daily Pivot Point S2	0.173
Daily Pivot Point S3	0.1664
Daily Pivot Point R1	0.205
Daily Pivot Point R2	0.2115
Daily Pivot Point R3	0.2243

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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Ripple Price Analysis: XRP finds short term resistance at 0.20