Ripple price started a strong increase above the .25 resistance against the US dollar. The price is now trading above .30 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near .245 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could continue to rise once it clears the .365 resistance zone in the near term. Ripple price is gaining pace above the .30 support against the US Dollar, similar to bitcoin. XRP price must clear .365 to continue higher towards .42. Ripple Price Analysis Ripple price saw a steady increase from the .05 support zone against the US Dollar. The XRP/USD pair broke the key .20 resistance and the 55 simple moving average (4-hours) to move
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- Ripple price started a strong increase above the $1.25 resistance against the US dollar.
- The price is now trading above $1.30 and the 55 simple moving average (4-hours).
- There was a break above a major bearish trend line with resistance near $1.245 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
- The pair could continue to rise once it clears the $1.365 resistance zone in the near term.
Ripple price is gaining pace above the $1.30 support against the US Dollar, similar to bitcoin. XRP price must clear $1.365 to continue higher towards $1.42.
Ripple Price Analysis
Ripple price saw a steady increase from the $1.05 support zone against the US Dollar. The XRP/USD pair broke the key $1.20 resistance and the 55 simple moving average (4-hours) to move into a positive zone.
The price even climbed above the $1.25 and $1.30 resistance levels. There was also a break above a major bearish trend line with resistance near $1.245 on the 4-hours chart of the XRP/USD pair. The pair settled above the $1.30 level.
There was a clear break above the 76.4% Fib retracement level of the downward move from the $1.303 high to $1.050 low. It is now trading near the $1.365 resistance zone.
The 1.236 Fib extension level of the downward move from the $1.303 high to $1.050 low is also near $1.365. A close above the $1.365 could set the pace for more gains. The next major resistance is near the $1.40 level. Any more gains could lead the price towards the $1.45 level.
On the downside, an initial support is near the $1.32 level. The next major support is near the $1.30 level. Any more losses could lead the price towards the $1.22 level and the 55 simple moving average (4-hours). The next major support below the $1.22 level is near the $1.20 level.
Ripple Price
Looking at the chart, ripple price is now trading well above $1.30 and the 55 simple moving average (4-hours). Overall, the price could continue to rise once it clears the $1.365 resistance zone in the near term.
Technical indicators
4 hours MACD – The MACD for XRP/USD is now gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 60 level.
Key Support Levels – $1.32, $1.30 and $1.25.
Key Resistance Levels – $1.365 and $1.400.