The price of Bitcoin is posting bullish signals against the United States Dollar. Bulls are now in control and could probably test the $8K price resistance. The leading coin extended its downside correction way down the $7.2K support against the US Dollar. On the other hand, Ripple (XRP)  continues a major upside towards a grand entry into the second week of 2020. 

Strong upward momentum along Bitcoin and Ethereum prices sparked <a href="https://www.cryptoknowmics.com/crypto/bullish-signals-on-the-altcoin-front-bnb-ltc-bch-trx-analysis/">the bullish movement</a> for Ripple (XRP) against the United States Dollar. XRP witnessed an upsurge beyond the $0.1900 resistance area. Furthermore, the coin saw a  break above $0.1940 and the 100 SMA (Simple moving average). 

To the extent of surpassing the 76.4% Fibonacci retracement level of the downward movement from the $0.1974 high to $0.1937 low.  

There seems to be the  possibility of surpassing the $0.1974 swing high in the near term. The next major  resistance level is around the $0.1985 level. 

Which seemingly coincides with the 1.236 Fibonacci extension level of the downward movement to a $0.1937 low from the $0.1947 high. 

In the above case, there exists high chances of an upside break beyond the key resistance area of $0.2000 in the near term. Nevertheless, the next key  target for the bulls could be above the $0.2000 and the $0.2120; this is because it is representative of a significant pivot area. 

From here, any further gains could spark a price movement towards the $0.2250 resistance area in the next few days. However, incase ripple fails to break the $0.2000 resistance, another <a href="https://www.investopedia.com/terms/c/correction.asp">downside correction </a>lies imminent. 

Note that an initial support lies around the $0.1950 level. Meanwhile, the major support being around the $0.1940 level. 

There is also a key rising channel forming around the $0.1940 support of the XRP/USD pair hourly chart. In case a downside break takes place below the $0.1940 support, the current bullish bias could somehow invalidate in the short term. 

The chart also signifies a trading pattern with a positive bias above the $0.1920 and $0.1940 support levels. In case the bulls remain in action beyond the $0.1980, the price could surge towards $0.2000 and $0.2050. 

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Ripple’s Imminent Bull Run Attempting $0.2120

Strong upward momentum along Bitcoin and Ethereum prices sparked bullish movement for Ripple (XRP) against the United States Dollar. In fact, XRP

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

Ripple’s Imminent Bull Run Attempting $0.2120

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