XRP, at the time of time of writing this analysis, was trading at $0.2125 and was seen consolidating below 61.80% Fib level. However, it was just in the past 24 hours that the king of the cryptocurrencies, Bitcoin gained amazing traction, and it reiterated above the 30-day resistance and went close to the major resistance before pulling back today.
While XRP was drawing a bearish crossover below $0.19 in the previous week, due to the current bullish momentum, it has regained the lost traction. Moreover, after almost 3 weeks of flattish movement around 38.20% Fib Retracement level, the XRP price trend gradually drove above the same.
Additionally, if in the intraday, the currency manages to keep up with the intraday momentum against the greenback and cross above $0.215 resistance, XRP/USD will successfully cross above 61.80% Fib level.
On the 4-hourly chart, Ripple is retaining strong and steady support from 50-day and 200-day MA at $0.2000 & $0.205, respectively. In the previous trading month, the XRP coin has hit the lowest at $0.18, and ever since, the pair traded confined $0.189 and $0.209 until the blow of traction in the bygone weekend.
The MACD is holding mixed sentiments due to the intraday movement of the Ripple against the US Dollar, although, appears RSI mildly bullish, While the RSI is hitting the overbought extremity due to the increased demand of the crypto and lies at 63.85. According to the current trading price and momentum, the major support and resistance to watch out for lies at $0.195 & $0.215, respectively.