Ripple price started a fresh decline from the %excerpt%.4100 resistance against the US dollar. The price is now trading near %excerpt%.3940 and near the 55 simple moving average (4-hours). There is a major bullish trend line forming with support near %excerpt%.3900 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could start a fresh increase if it clears the %excerpt%.400 and %excerpt%.410 resistance levels. Ripple price is struggling below %excerpt%.410 against the US Dollar, similar to bitcoin. XRP price must stay above %excerpt%.3740 to attempt a fresh increase in the near term. Ripple Price Analysis This past week, ripple price saw a bearish reaction from the %excerpt%.4100 zone against the US Dollar. The XRP/USD pair declined below the %excerpt%.4020 support zone to move into a short-term bearish zone. The price
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, Ripple, Trading, XRP
This could be interesting, too:
Emily John writes Ripple Unveils Institutional Roadmap Driving XRP Ledger Growth
Emily John writes GRVT Launches Alertatron Trading Event and Airdrop Before TGE
Bilal Hassan writes Coinbase Expands in Nigeria with Onboard Global Partnership
Emily John writes XRP Eyes Breakout – Will the Final Wave Spark a Rally?
- Ripple price started a fresh decline from the $0.4100 resistance against the US dollar.
- The price is now trading near $0.3940 and near the 55 simple moving average (4-hours).
- There is a major bullish trend line forming with support near $0.3900 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
- The pair could start a fresh increase if it clears the $0.400 and $0.410 resistance levels.
Ripple price is struggling below $0.410 against the US Dollar, similar to bitcoin. XRP price must stay above $0.3740 to attempt a fresh increase in the near term.
Ripple Price Analysis
This past week, ripple price saw a bearish reaction from the $0.4100 zone against the US Dollar. The XRP/USD pair declined below the $0.4020 support zone to move into a short-term bearish zone.
The price even traded below the $0.4000 level. There was a spike below the 50% Fib retracement level of the bullish wave from the $0.3747 swing low to $0.4108 high. The price is now trading near $0.3940 and near the 55 simple moving average (4-hours).
An initial support on the downside is near the $0.3900 level. There is also a major bullish trend line forming with support near $0.3900 on the 4-hours chart of the XRP/USD pair. The trend line is near the 61.8% Fib retracement level of the bullish wave from the $0.3747 swing low to $0.4108 high.
The next major support is near the $0.3740 level. The next major support is near the $0.3650 level. Any more losses could lead the price towards the $0.3300 level, below which the price might even test $0.3200.
On the upside, the price is facing resistance near $0.4000. The next major resistance is near the $0.4100 level. The main resistance is near the $0.4175 zone. A clear move above the $0.4175 and $0.420 resistance zones might start a fresh increase.
In the stated case, the price could even surpass the $0.450 resistance. Any more gains might send the price towards the $0.500 resistance.
Ripple Price
Looking at the chart, ripple price is now trading near the $0.394 zone and near the 55 simple moving average (4-hours). Overall, the price could start a fresh increase if it clears the $0.400 and $0.410 resistance levels.
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 above the 50 level.
Key Support Levels – $0.3900, $0.3740 and $0.3300.
Key Resistance Levels – $0.4000 and $0.4100.