cryptocurrency

Ripple Price Analysis: Breaking the bulls-eye rally above $0.4

  • Ripple price rose and cleared the $0.3500 resistance against the US Dollar.
  • The price is now trading above $0.3500 and the 55 simple moving average (4 hours).
  • There was a break above the major downtrend line with resistance near $0.3400 on the 4-hour chart of the XRP/USD pair (data source from Bittrex).
  • The pair could rise steadily if it remains above the $0.3600 and $0.3650 support levels.

Ripple is recovering above $0.3500 against the US dollar, similar to Bitcoin. XRP price must stay above $0.3400 and $0.3350 to continue higher.

Ripple price analysis

After forming a base near the $0.3250 region, Ripple price started a new high against the US Dollar. The XRP/USD pair managed to breach the $0.3350 resistance area.

The price even broke the $0.3500 resistance and the 55 simple moving average (4-hours). There was a clear move above the 50% Fib retracement level of the downside move from $0.3908 to the low at $0.3130. Besides, there was a break above the major downtrend line with resistance near $0.3400 on the 4-hour chart of the XRP/USD pair.

XRP rose above the $0.3550 resistance area, but faced sellers near the $0.3600 area. It is now trading above $0.3500 and the 55 simple moving average (4-hours).

On the upside, the price is facing resistance near $0.3610. It is near the 61.8% Fib retracement level of the downside move from $0.3908 to the $0.3130 low. The next major resistance is near the $0.3750 level. A clear move above the $0.3750 resistance area may start a new increase.

In the mentioned case, the price might surpass the $0.390 resistance. Any further gains could send the price towards the $0.4000 resistance. There is initial support on the downside near the $0.3500 level.

Ripple price

The next major support is near the $0.3400 level. Any further losses could push the price towards the $0.3350 level, below which the price may test $0.3200.

look at me ScheduleRipple price is now trading above the $0.3500 area and the 55 simple moving average (4 hours). In general, the price could rise steadily if it stays above the $0.3600 and $0.3650 support levels.

Technical Indicators

4-hour MACD – The MACD for XRP/USD is losing momentum in bullish territory.

4-hour RSI (Relative Strength Index) – The RSI for XRP/USD is above the 50 level.

Key support levels – $0.3500, $0.3400 and $0.3350.

The main resistance levels are $0.3610 and $0.3750.

Tags: ripple, XRP

#Ripple #Price #Analysis #Breaking #bullseye #rally

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