Ripple has corrected from its recent annual high of $ 1.5 to the $ 1.45 zone. Holding this support zone plays a key role in ensuring that XRP continues its uptrend. Otherwise, the bearish outlook will be towards $ 1.12 or $ 1. Meanwhile, the fourth-ranked cryptocurrency on Coinmarketcap must protect the important short-term technical pattern to secure the uptrend to $ 4.
Ripple bull can win
Ripple is moving in an ascending parallel pattern, as seen on the 4-hour chart. Holding on to this critical area will ensure that XRP remains in an upward trajectory.
The bulls appear to be facing stiff resistance at $ 2. A breakout of $ 1.5 will likely trigger large buy orders towards $ 2 as speculation intensifies in the XRP community.
XRP / USD four-hour chart
The MACD indicator is currently moving sideways in positive territory. The MACD line (blue) remains below the signal line. A cross above the signal line will send a bullish signal by buyers to take advantage of the breakout to $ 2.
It is worth mentioning that closing the day below the mid support of certain channel will cause significant losses. The support at $ 1.2 can be retested, but if the lower edge of the channel is penetrated, the pull of the bears could create a downside beard to $ 1.
Ripple's intraday level
- Spot rate: 1.45 USD
- Trend: sideways
- Volatility: High
- Support: 1.4 USD and 1.2 USD
- Resistance levels: $ 1.48 and $ 1.5