Ripple Price Positioned For Critical Bullish Break

Cryptoknowmics  |  Jan 6, 2020

he price of XRP/USD is surging over $0.1950. Hence, it could surge over $0.2000 and $0.2100.

In recent times, the powerful gains in BTC and ETH initiated bullish moves in XRP over the hurdle zone at $0.1900.

Further, the price surged over $0.1940 and the 100 hourly SMA. The price could surge over the $0.1974 swing high soon. The immediate major hurdle is close to $0.1985 level.

Following a successful surge over the swing high level, there is high likelihood of an upside surge over the major hurdle at $0.2000 soon. The immediate target for the buyers over $0.2000 could be $0.2120 since it is a key pivot zone.

Any additional gains could take the price towards the hurdle zone at $0.2250. The failure to surge over the hurdle zone at $0.2000 may lead to be another downside correction. The first support is close to $0.1950. Nevertheless, the major support is close to $0.1940.

Besides, a look at the hourly chart of XRP against the USD shows the formation of a major rising channel with support close to $0.1940. The occurrence of a downside break under the support at $0.1940 could abolish the present bullish bias soon.

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