Ripple Rebounds above $0.20 Resistance, as Bulls Gain More Ground

The bulls have tested the resistance at $0.20 on four occasions without breaking it. Yesterday, the resistance was broken but failed to break the $0.205 resistance. 

Sellers have emerged at the $0.205 price level to push prices down. Ripple is still trading below the $0.205 resistance. A break above $0.205 resistance will accelerate price movement to the $0.22 high. On the downside, if the bulls fail to break the current resistance, the coin will be range-bound between $0.195 and $0.205 for a few more days. Ripple is trading at $0.203 at the time of writing.

Ripple indicator analysis

Ripple has the chance of rising as the price bars are above the exponential moving averages. The crypto is in a bullish momentum as it is above 60% range of the daily stochastic. 

Key Resistance Zones: $0.35, $0.40, $0.45

Key Support Zones: $0.25, $0.20, $0.15

What is the next move for Ripple?

Ripple is rising as it breaks above the $0.20 resistance. The coin will have an opportunity of having a tremendous move if it breaks the resistance at $0.205. Since June 2, the resistance at $0.205 has not been broken. Several attempts have been made to break the resistance but the upward move could not be sustained. Ripple uptrend will resume if the $0.205 resistance is breached and the price is sustained.

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.