cryptocurrency

Ripple Price Analysis: The main rejection is near $0.4, the main support is near

  • Ripple price rose and traded near the $0.4000 resistance level against the US Dollar.
  • The price is now trading below $0.3500 and the 55 simple moving average (4 hours).
  • There was a break above the major downtrend line with resistance near $0.3300 on the 4-hour chart of the XRP/USD pair (data source from Bittrex).
  • The pair could rise steadily if it remains above the $0.3400 and $0.3350 support levels.

Ripple price is correcting gains from $0.4000 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 $0.3215 region, the Ripple price started a new high against the US Dollar. The XRP/USD pair managed to break through the $0.3500 resistance area.

The price broke the $0.3550 resistance and the 55 simple moving average (4-hours). Besides, there was a break above the major downtrend line with resistance near $0.3300 on the 4-hour chart of the XRP/USD pair. XRP rose above the $0.3850 resistance area, but faced sellers near the $0.4000 area.

A top formed near $0.3979 and the price started a sharp bearish correction. There was a move below the 50% Fib retracement level of the upward move from the $0.3216 swing low to $0.3979 high.

It is now trading below $0.3500 and the 55 simple moving average (4-hours). There is initial support on the downside near the $0.3400 level. It is near the 76.4% Fib retracement level of the upward move from the $0.3216 swing low to $0.3979 high.

The next major support is near the $0.3335 level. Any further losses could push the price towards the $0.3200 level, below which the price could test $0.3000.

On the upside, the price is facing resistance near $0.3510. The next major resistance is near the $0.3600 level. A clear move above the $0.3600 resistance area may start a new increase. In the mentioned case, the price might surpass the $0.3750 resistance. Any further gains could send the price towards the $0.4000 resistance.

Ripple price

look at me ScheduleRipple price is now trading below the $0.3500 area and the 55 simple moving average (4 hours). In general, the price could rise steadily if it stays above the $0.3400 and $0.3350 support levels.

Technical Indicators

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

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

Key support levels – $0.3400, $0.3335 and $0.3200.

Key resistance levels – $0.3600 and $0.3750.

Tags: ripple, XRP

#Ripple #Price #Analysis #main #rejection #main #support

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