Ripple price declined below .25 and tested the .165 support against the US dollar. The price is now trading near .21 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near .175 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could continue to move up if there is a clear break above .235. Ripple price is slowly rising above .20 against the US Dollar, unlike bitcoin. XRP price must clear .24 for another increase in the near term. Ripple Price Analysis After a strong rally, the price faced resistance near the .350 resistance against the US Dollar. The XRP/USD pair started a fresh decline from the .35 resistance and traded below .30. The pair even traded below the $.125
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, Ripple, Trading, XRP
This could be interesting, too:
Benjamin Njiri writes DAI Hit Record 0B in On-chain Transaction Volume Last Week
Chimamanda U. Martha writes Binance Rolls Out Copy Trading for Spot Crypto Contracts
Temitope Olatunji writes 0G Labs Partners with OnePiece to Launch Pioneering Crypto x AI Incubator
Bena Ilyas writes Spot Bitcoin ETFs Rebound with .09M Inflow, while GBTC Continues Outflow Trend
- Ripple price declined below $1.25 and tested the $1.165 support against the US dollar.
- The price is now trading near $1.21 and the 55 simple moving average (4-hours).
- There is a key bullish trend line forming with support near $1.175 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
- The pair could continue to move up if there is a clear break above $1.235.
Ripple price is slowly rising above $1.20 against the US Dollar, unlike bitcoin. XRP price must clear $1.24 for another increase in the near term.
Ripple Price Analysis
After a strong rally, the price faced resistance near the $1.350 resistance against the US Dollar. The XRP/USD pair started a fresh decline from the $1.35 resistance and traded below $1.30.
The pair even traded below the $.125 support and the 55 simple moving average (4-hours). Finally, there was a spike below $1.20 level. A low was formed near $1.121 and the price is now rising. There was a break above the $1.16 and $1.18 resistance levels.
The price climbed above the 23.6% Fib retracement level of the recent decline from the $1.348 swing high to $1.121 low. It is now trading near $1.21 and the 55 simple moving average (4-hours).
On the upside, an initial hurdle is near the $1.220 level. The next key resistance is near the $1.235 level. It is close to the 50% Fib retracement level of the recent decline from the $1.348 swing high to $1.121 low. A close above the $1.35 level might push the price towards $1.25.
Any more gains could lead the price towards the $1.30 level. On the downside, the first major support is near the $1.20 level. The next major support is near the $1.18 level.
There is also a key bullish trend line forming with support near $1.175 on the 4-hours chart of the XRP/USD pair. Any more losses could lead the price towards the $1.12 level in the near term.
Ripple Price
Looking at the chart, ripple price is now trading near $1.21 and the 55 simple moving average (4-hours). Overall, the price could continue to move up if there is a clear break above $1.24.
Technical indicators
4 hours MACD – The MACD for XRP/USD is slowly gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Key Support Levels – $1.20, $1.18 and $1.12.
Key Resistance Levels – $1.235 and $1.30.