Ripple is moving comfortably against the US Dollar in a bullish region above $0.1950. The XRP price is likely to increase above resistance rates of $0.2000 and $0.2020.

On the XRP / USD pair’s hourly chart (data source from Kraken) there is a big bullish trend line forming with support around $0.1955. The pair is likely to remain higher than $0.2000 as long as it trades above the pivot point of $0.1920.

Ripple Price Can Further Rally

Ripple began a fresh rise after establishing a solid base of support between $0.1900 and $0.1920. A key resistance near the $0.1950 level broke the XRP price to push further into a positive region.

There was also a break above the weekly resistance level of $0.1980. Ripple settled comfortably above the 100 hourly simple moving average in a positive environment, close to bitcoin and Ethereum.

Close to $0.1997 is establishing a new weekly peak, and the price is currently consolidating gains. It checked the 23.6 percent retracement point of the recent rise from the low of $0.1922 to the high of $0.1997.

The first big support is close to level $0.1965 (recent breakout zone). The next significant help is seen near the level of $0.1955. In addition, a big bullish trend line is developing on the XRP / USD pair’s hourly chart, with support close to $0.1955.

The trend line is similar to the 50 percent Fib retracement point of the recent rise from the low of $0.1922 to a peak of $0.1997. On the upside, an immediate resistance to the bulls is near to the point of $0.2000.

A good break and follow-through above the level of $0.2000 might begin a steep rise. The next immediate resistance is near the level of $0.2050, above which the price could rally towards the level of $0.2120.

Limited Dips

On the downside Ripple is well sponsored, starting at $0.1965 and $0.1950. The moving average of 100 hourly simples is also close to $0.1945 to provide help.

The key support is now developing close to the level of $0.1920. Below which in the near term there is a chance of a bigger fall towards the rates of $0.1880 and $0.1850.