Bitcoin once fell below $ 12,000 but don’t worry, XRP price likely to surge further $ 0.33

XRP price gained momentum and climbed above the $ 0.32 resistance. The price has traded to a new weekly high near $ 0.3280, and it has settled above the 100-hour SMA. XRP price was able to clear the resistance levels of $ 0.3055 and $ 0.3065. However, that was the story of a few hours ago. Very quickly, when Bitcoin once fell below $ 12,000, the entire market lost about $ 10 billion in capitalization.

XRP price traded to a new weekly high near the $ 0.3280 and settled well above the 100 hourly SMA

As a result, there was been a sharp rise above the $ 0.312 and $ 0.32 resistance level. The price was up more than 5% and even soared above the $ 0.325 resistance. The new weekly high is close to $ 0.328, and it has settled above the 100-hour SMA.

The price was currently correcting lower and trading below $ 0.32. There was a break below the 23.6% Fib retracement level of the recent rally from a low of $ 0.2975 to a high of $ 0.3279.


XRP price surpasses $0.32 | Source: TradingView.com

The next significant support is near $ 0.312. It is close to the 50% Fib retracement level of the recent rally from a low of $ 0.2975 to a high of $ 0.3279. There appears to be a short-term contract triangle forming with resistance near $ 0.3235 on the hourly chart of the XRP/USD pair.

If Ripple initiates a prolonged downside correction, the $ 0.3120 support is likely to stop loss. If there is a break down below $ 0.312, the price might test the $ 0.308 support. Any further loss can lead the price towards the main support zone of $ 0.3055 (previous significant resistance and breakout zone).

But, it is true that the cryptocurrency market is difficult to say! There is never a boring day in the world of crypto and everything can change in the blink of an eye. Just recently, the total market cap is at a 14-month high. However, just a few minutes, $ 10 billion could be “blown” from the market when Bitcoin and other cryptocurrencies suddenly plunged.

And as we have seen, XRP is also affected equally. And all of the above analysis also becomes useless if the buyers do not continue their upward momentum. At press time, XRP’s price is hovering around $ 0.304, down slightly by nearly 5% over the past 24 hours.

Let’s see what will happen in the next days!

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