Ripple Holds above $0.195, Resumes Upside Correction

For the past 48 hours, the price movement has remained the same as the market continues its fluctuation. After its rejection, the price corrected upward to retest the $0.205 resistance but XRP further dropped below the $0.20 support. 

In the meantime, the coin is consolidating above $0.195 support. As the market continues its consolidation, another breakout is possible. A strong bounce above $0.195 support will break the resistance at $0.21. The momentum will extend to retest the $0.235 overhead resistance. Conversely, if the bears turn around and break the $0.195 support, the market will drop to $0.185 low.

Ripple (XRP) Indicator Analysis

After the recent downward move, XRP has found support above the 12-day EMA and the 26-day EMA. Ripple will rise if the current support above the EMA holds. A downward movement of the coin will ensue if price breaks below the EMAs. Ripple is below 80 % range of the daily stochastic. It indicates that the market is in a bearish momentum but the momentum has subsided.

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 (XRP)?

Ripple is still consolidating above $0.195 support. The coin will indicate weakness if the current support is broken. A strong defense of the current support will indicate that the uptrend is intact. There is the possibility of breaking the $0.235 overhead resistance, if the $0.21 resistance is breached.

Disclaimer. This analysis and forecast are the personal opinions of the author 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.