Ripple Price Analysis: XRP is showing signs of breaking higher

Ripple trades 4.34% higher as the cryptoshpere received a boost on Thursday.
XRP/USD broke a key trendline to the upside and now has consolidated around 0.19.

Rajan Dhall, MSTA FX Daily

XRP/USD 1-hour chart

Ripple broke higher earlier on in the session and broke the black trendline on the hourly chart below. Now the rest resistance point up is the blue line at 0.1960, beyond that, the psychological 0.20 level is next up.

Looking at the chart, the red 200 period moving average seemed to have provided some resistance and halted the move. Since then the price has just move below the 0.19 area where it looks like it might try and consolidate. The RSI briefly moved into overbought territory but has now moved back below. The move higher was accompanied by a rise in volume so it looks like the break was legit. Now there needs to be another bout of buying strength to test the resistance zones above.

Additional levels

XRP/USD

Overview
Today last price	0.1891
Today Daily Change	0.0085
Today Daily Change %	4.71
Today daily open	0.1806

Trends
Daily SMA20	0.1833
Daily SMA50	0.1883
Daily SMA100	0.2212
Daily SMA200	0.2334

Levels
Previous Daily High	0.19
Previous Daily Low	0.1802
Previous Weekly High	0.2053
Previous Weekly Low	0.1767
Previous Monthly High	0.2468
Previous Monthly Low	0.1129
Daily Fibonacci 38.2%	0.1839
Daily Fibonacci 61.8%	0.1862
Daily Pivot Point S1	0.1772
Daily Pivot Point S2	0.1738
Daily Pivot Point S3	0.1674
Daily Pivot Point R1	0.187
Daily Pivot Point R2	0.1934
Daily Pivot Point R3	0.1968

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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XRP/USD 1-hour chart

Additional levels

XRP/USD

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