Looking at the Technical Indicators

Major Support Level: $237.21

Pivot Level: $239.39

Major Resistance Level: $241.36

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP rose by 0.86% on Saturday. Partially reversing a 1.69% fall from Friday, Ripples XRP ended the day at $0.20124.

A bullish start to the day saw Ripples XRP break through R1 @ $0.2041 to strike an intraday high $0.20504.

Bearish through the afternoon, Ripples XRP fell to a late intraday low $0.19811.

While falling into the red, Ripples XRP avoided S1 @ $0.1936. Finding late support, Ripples XRP moved back through to $0.20 levels and into the green.

Looking at the MACD, weve seen a narrowing of the bullish histograms early on, supportive of a pullback in the day ahead.

The spreads between the 50-day EMA and 100 and 200 EMAs have also narrowed marginally also supporting a reversal.

Avoiding a fall through the days pivot level at $0.2015 will be key to support the upward momentum.

Barring an extended crypto rally, R1 @ 0.2048 and Saturdays high $0.20504 would likely cap any upside.

A fall through the days pivot level at $0.2015 would bring the S1 @ $0.1979 into play before any recovery.

Barring an extended sell-off, Ripples XRP should avoid sub-$0.19 levels. S2 @ 0.1945 should limit any downside.

At the time of writing, Ripples XRP was up by 0.11% to $0.20147. A bullish start to the day saw Ripples XRP rise from an early morning low $0.20122 to a high $0.20340. Ripples XRP left the major support and resistance levels untested early on.

Read more:

EOS, Ethereum and Ripple's XRP - Daily and Hourly Tech Analysis July 12th, 2020 - FX Empire