Ripple Price Analysis: The market continues to pull away from 0.20 but there is hope for the bulls

• Ripple is trading 0.78% higher today but is still under the 0.20 psychological level.
• The trendline on the 4-hour chart is still broken and there are some key supports close by.

XRP 4-hour chart

Ripple has pulled away from its recent best levels after testing 0.20 on Thursday. On Friday the price is trading higher but the bulls have not gathered enough momentum to break the wave high. Interestingly below current levels, there are still some key support areas. The black trendline could be retested as this often happens after a trendline break. Also, the red support line at 0.1912 could be used as support if the price drops lower.

The indicators are still looking pretty positive on the 4-hour chart as the price is trading above the 55 and 200 moving averages. The relative strength index indicator is also above the 50 line in positive territory which is a good sign. The volume is still higher when the candles move higher again this could mean the market is behind the move higher.

Additional levels