Looking at the current price of Ripple XRP, it’s easy to conclude that rise above $0.2000 and to $0.2100 isn’t far fetched. However, the truth is that XRP has a reputation for stalling in one region for a long time. Things have been known to get worse in the $0.1900 level as the last few weeks have shown.
At the time of writing, the price of the token was $0.198560. It is up by 0.28% against the USD and up by 0.12% against Bitcoin BTC. The trading volume over a 24 hour period is $793,480,160 and the market capitalization is $8,787,831,328.
A few days ago, the XRP token started a downside correction from its recent $0.2118 swing. It subsequently lost the support levels at $0.2050 and $0.2020 spiking as low as $0.1900 before it found another support. As XRP declined, it broke the 50% Fib retracement level of the last surge from $0.1741 to $0.2118. The bulls started gathering momentum and took the token to its current level. However, the price is still stalling at the $0.19800 level.
If the price of XRP is to surge above the $0.2100 level, there must be a daily close above $0.1920 level. Closing the day below this level will cause lower lows for XRP. It might move as low as $0.1820 or even $0.1800.
On the other hand, the XRP token will most likely move higher if it successfully breaks the resistances at $0.2000 and $0.2030. The MACD is in the bullish territory and the relative strength index has moved above level 50. The end of the trading session today will give us a clearer idea of the direction the price will take.
- XRP Has Been Stalling Above $0.1900 for Days
- Recent XRP Price Prediction Indicates That the Price of the Token Might Surge Soon
- Gaining Bullish Momentum Might Take XRP to the $0.2100 Level Near-term
For the last few days, XRP has gotten comfortable in the $0.1900 level. Gaining bullish momentum to move above this level has been tricky for the token but the latest XRP price analysis from Aayush Jindal shows that the XRP token might surge above the $0.2100 level soon irrespective of the current price action.
The good news is that the token has found strong support at the $0.1900 and $1920 levels and is trading near the resistance at $0.2000 level. It also happens to be above the bullish flag pattern indicating that a rally above $0.2000 is likely.
