Ripple price gained traction and it rallied above .00 against the US dollar. The price is now trading well above the .10 resistance and the 55 simple moving average (4-hours). There is a key contracting triangle forming with resistance near .32 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could continue to rise as long as it is above the .10 support zone. Ripple price is trading in a positive zone above .10 against the US Dollar, similar to bitcoin. XRP price could accelerate further higher if it clears the .35 hurdle. Ripple Price Analysis Recently, there was a fresh increase in ripple price above the %excerpt%.8500 resistance against the US Dollar. The XRP/USD pair broke the key .00 resistance zone to move further into a
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, Ripple, Trading, XRP
This could be interesting, too:
Chimamanda U. Martha writes Avail Teams Up with Leading Blockchain Platforms for Data Integration
Steve Muchoki writes Aligned Layer Successfully Raised M in Series A Funding Round Led by Hack VC
Mayowa Adebajo writes BNB Chain to Move Native Liquid Staking Feature to BSC
Temitope Olatunji writes Renzo (REZ) Addresses Community Backlash with Airdrop Adjustment and Token Stabilization Efforts
- Ripple price gained traction and it rallied above $1.00 against the US dollar.
- The price is now trading well above the $1.10 resistance and the 55 simple moving average (4-hours).
- There is a key contracting triangle forming with resistance near $1.32 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
- The pair could continue to rise as long as it is above the $1.10 support zone.
Ripple price is trading in a positive zone above $1.10 against the US Dollar, similar to bitcoin. XRP price could accelerate further higher if it clears the $1.35 hurdle.
Ripple Price Analysis
Recently, there was a fresh increase in ripple price above the $0.8500 resistance against the US Dollar. The XRP/USD pair broke the key $1.00 resistance zone to move further into a bullish zone.
The price is now trading well above the $1.10 resistance and the 55 simple moving average (4-hours). It even broke the $1.25 level and traded as high as $1.357. It is now consolidating gains and trading below the $1.30 support level.
It spiked below the 23.6% Fib retracement level of the upward move from the $0.9228 swing low to $1.357 high. It is now consolidating above the $1.250 support.
There is also a key contracting triangle forming with resistance near $1.32 on the 4-hours chart of the XRP/USD pair. On the upside, an initial resistance is near the $1.31 level. The next major resistance is near the $1.35 level. To start a fresh rally, the price must clear the $1.35 resistance.
In the stated case, the price could rise towards the $1.50 level. On the downside, the bulls are likely to remain active near the $1.25 level.
The next major support is near the $1.18 level. Any more losses could lead the price towards the 1.15 level. It is close to the 50% Fib retracement level of the upward move from the $0.9228 swing low to $1.357 high.
Ripple Price
Looking at the chart, ripple price is now trading well above the $1.10 resistance and the 55 simple moving average (4-hours). Overall, the price could continue to rise as long as it is above the $1.10 support zone.
Technical indicators
4 hours MACD – The MACD for XRP/USD is now losing momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is still above the 55 level.
Key Support Levels – $1.25, $1.18 and $1.15.
Key Resistance Levels – $1.32 and $1.35.