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XRP Ready to Upsurge Above $0.19 while ETH Could reach $200
XRP/USD Pair Price Analysis
The XRP/USD traded to a fresh weekly low at $0.1740 before it began a new rally in line with Bitcoin and Ethereum. The pair witnessed an upsurge above barriers at $0.1800 and $0.1850 to enter into a positive area.
The pair established itself over the 100 hourly SMA. It attained a fresh weekly high close to $0.1935 and it is now retracing lower. The pair moved beneath $0.1900 and it is currently close to a key support near $0.1850 and the 100 hourly SMA.
The pair’s hourly chart shows the formation of a key bullish trend line with support close to $0.1850. The immediate major support beneath the trend line is close to $0.1840.
Hence, the pair could bounce back over $0.1900 if it does not move below $0.1840 support.
The pair’s failure to sustain levels above the major supports at $0.1850 and $0.1840 poses the chances of more losses in the near-term. The immediate key support is observed close to $0.1810.
Any additional declines beneath $0.1810 could lead take the pair back to the $0.1740 swing low. Generally, the pair’s trend at the moment is positive and it could rise again unless it moves below the $0.1840 support.
ETH/USD Pair Price Analysis
Within the previous few days, the ETH/USD pair was able to sustain price levels above $145 zone. The pair attained price levels near $145 level and in recent times began a steep rise.
The pair’s hourly chart shows a break above $155 barrier to initiate a key upward move. An important observation was a break above a critical declining trend line with barrier close to $158 on the same chart.
It paved the way for a steep upsurge above $160 resistance and the 100 hourly SMA. The pair was able to secure bullish momentum and surged past $170 barrier. It traded near the barrier zone from $174 to $175 and it is now into consolidation within a range.
On the same chart, it appears that there is the formation of a contracting triangle with support close to $168. The occurrence of a downside break could make the pair to retrace lower to $166.
Any additional declines may take the pair to $163 support zone which is the recent breakout area. A look at the upside shows the formation of a key barrier close to $174 and $175. The ability of the pair to surge above $175 barrier poses the chances of additional upsides in the near-term.
The next barrier is close to $185, above which the buyers could focus on testing $192 barrier. Any additional upsides could take the pair to the $200 handle.