Bear and Bull Scenarios for Sharp Increasing Ripple from Technical Analysts

Fibo Quantum

The price of – Ripple (XRP) is currently trading against the US dollar with a positive bias of over US $ 0.2750.
The Bitcoin price went above the $ 10,200 and $ 10,300 resistance levels to start a good recovery.
The hourly chart of the XRP / USD pair has a significant upward trend line (data source from Kraken), supporting the $ 0.2700 level.
Technical analysts expect the pair to rise above the $ 0.2900 and $ 0.2950 resistance levels.
The price of the Ripple is rising against the US dollar with a positive bias, similar to Bitcoin. According to technical analysts, the price of XRP has to exceed $ 0.2920 resistance to stay higher.

Technical analysts: Ripple price clearly approaches key barriers
Last week, we saw a strong drop in the XRP price against the US dollar, falling below $ 0.3000. The XRP / USD pair broke the support level of $ 0.2500. Eventually, the XRP traded at the $ 0.2340 level and recently started a reverse correction. The crypto market is trading with positive moves during the spelling. The XRP has gone above the resistance levels of $ 0.2650 and $ 0.2700 to move the Ripple price to a positive zone. What’s more, there was a break above the $ 0.2800 resistance and a drop above the 100-hour simple moving average.

The upward move was positive with a break above the resistance level of $ 0.2850. However, the price entered a very important resistance area near the $ 0.2900 and $ 0.2920 levels. Currently, it corrects price increases and has recently fallen below the 23.6% Fib retracement of the upward movement. However, there is a lot of support near the downward levels of 0.2750 and 0.2700 USD. In addition, the hourly chart of the XRP / USD pair has a significant upward trend, which is supported by around $ 0.2700.

Decline and uptrend scenarios for Ripple (XRP) from technical analysts
The 50% Fib retreat level of the upward movement has risen from $ 0.2616 to $ 0.2913, close to $ 0.2760 to work as support. Therefore, according to technical analysts, if there is a negative correction, bulls are expected to protect $ 0.2750 and $ 0.2700. On the upside, the main resistors are around $ 0.2900 and around $ 0.2920. Therefore, according to technical analysts, a successful break above US $ 0.2920 could accelerate gains towards the US $ 0.3000 and the US $ 0.350.

The Ripple price is clearly approaching key barriers at $ 0.2920. According to technical analysts, if the price does not go above $ 0.2920, there may be a downward movement towards $ 0.2700. In contrast, technical analysts say a successful break above $ 0.2920 could raise the price to $ 0.3000 or more in the near term.

According to technical indicators, what’s next in Ripple (XRP)?
Hourly MACD: The MACD for the XRP / USD pair is slowly moving towards the bearish zone.

Hourly RSI (Relative Strength Index): The RSI for the XRP / USD parity is now well above 50.

Major Support Levels: $ 0.2750, $ 0.2700 and $ 0.2650.

Main Resistance Levels: $ 0.2900, $ 0.2920 and $ 0.3000.