Ripple Price Outperforms Adding 7.65%

Ripple XRPUSD price outperforms its crypto peers today as it is 7.27% higher at $0.2087 breaking to the upside the consolidation phase which started mid-December.  Crypto investors sentiment improves after the biggest by capitalization cryptocurrency breached above the $7,500 mark. Some analysts argue that the recent rally in cryptocurrencies has to do with rising geopiltical risks in the Middle East.

XRPUSD price peaked at $0.3151 on November 7th, but after that, a sharp correction took place boosted by PBOC comments that send the   number three cryptocurrency by market cap down to two year lows at $0.2017.

The XRPUSD capitalization is now at 8.76 billion with volume reaching 2.26 billion in the last 24 hours.

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XRPUSD Ripple Price Analysis

XRPUSD today sharp move higher has stalled just shy of the 50-day moving average at $0.2128. The ripple outlook remains bearish despite today’s gains.

Ripple price now needs to clear the first resistance at $0.2110 the daily top. If XRPUSD breaks above that intraday resistance further resistance will be met at $0.2129 the 50-day moving average. A move above will question the bearish trend  and might attract more bids for a move higher to the next resistance point at $0.2183 the high from December 16th.

On the flip side, immediate resistance now stands at $0.1946 the daily low; If that low indeed breaks, then XRPUSD might slide to $0.1851 the low from January 3rd. Next strong support provides the low from December 18th at $0.1757.

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