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  • Ripple consolidation continues despite Bitcoin’s brief rally towards $10,000.
  • XRP/USD surge above $0.21 could pave the way for gains targeting $0.2150 and $0.25 respectively.

Ripple is still nurturing its stability above $0.20. Movement upwards continues to be limited by the selling pressure at $0.2050 and $0.21 in the short term. A sideways trend has been in motion since the beginning of the week. Prior to the consolidation, XRP slumped from $0.2150 (June highs).

Meanwhile, the price is trading at $0.2026. The immediate upside is capped by the 50 SMA in the 4-hour range. Marginally below the market value is the initial support y the 100 SMA.

The ongoing choppy market ignored Bitcoin’s short-lived rally above $9,900. Nevertheless, BTC/USD failed to break the resistance at $10,000 again, leading to a reversal under $9,900. As for XRP/USD, consolidation is reminiscent of the leveling RSI and MACD.

On the upside, gains above $0.21 could catapult XRP above the descending trendline. The next key hurdle after the trendline is $0.2150 and $0.25. On the downside, support is expected at $0.20, $0.19, and $0.18.

XRP/USD 4-hour chart

XRP/USD price chart

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