Sunday , October 2 2022
Home / Altcoins / Ripple Price Analysis: Bulls Eye Fresh Increase To $0.4

Ripple Price Analysis: Bulls Eye Fresh Increase To $0.4

Summary:
Ripple price gained pace and cleared the %excerpt%.3550 resistance against the US dollar. The price is now trading above %excerpt%.35 and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near %excerpt%.3600 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could rise steadily if it stays above the %excerpt%.3750 and %excerpt%.3670 support levels. Ripple price is recovering above %excerpt%.3500 against the US Dollar, similar to bitcoin. XRP price must stay above %excerpt%.3750 and %excerpt%.3670 to continue higher. Ripple Price Analysis After forming a base near the %excerpt%.3250 zone, ripple price started a fresh recovery against the US Dollar. The XRP/USD pair was able to clear the %excerpt%.3450 resistance zone. The price even broke the %excerpt%.3550

Topics:
Aayush Jindal considers the following as important: , , , ,

This could be interesting, too:

Nick Marinoff writes Jackson Palmer Wants to Be Free of Elon Musk

Nick Marinoff writes Did Bitcoin Get Caught Up in Hype Surrounding The Merge?

Nick Marinoff writes MicroStrategy Will Sell Stock to Buy More BTC

Nick Marinoff writes Crypto Pool Enterprise Poolin Is Halting All Withdrawals

  • Ripple price gained pace and cleared the $0.3550 resistance against the US dollar.
  • The price is now trading above $0.35 and the 55 simple moving average (4-hours).
  • There was a break above a key bearish trend line with resistance near $0.3600 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could rise steadily if it stays above the $0.3750 and $0.3670 support levels.

Ripple price is recovering above $0.3500 against the US Dollar, similar to bitcoin. XRP price must stay above $0.3750 and $0.3670 to continue higher.

Ripple Price Analysis

After forming a base near the $0.3250 zone, ripple price started a fresh recovery against the US Dollar. The XRP/USD pair was able to clear the $0.3450 resistance zone.

The price even broke the $0.3550 resistance and the 55 simple moving average (4-hours). Besides, there was a break above a key bearish trend line with resistance near $0.3600 on the 4-hours chart of the XRP/USD pair.

The pair climbed above the $0.4000 resistance zone. A high was formed near $0.4095 before there was a downside correction. The price declined below the 23.6% Fib retracement level of the upward move from the $0.3260 swing low to $0.4095 high.

It is now trading above $0.355 and the 55 simple moving average (4-hours). An initial support on the downside is near the $0.3750 level.

The next major support is near the $0.3670 level. It is close to the 50% Fib retracement level of the upward move from the $0.3260 swing low to $0.4095 high. Any more losses could lead the price towards the $0.3550 level, below which the price might even test $0.3450.

On the upside, the price is facing resistance near $0.3850. The next major resistance is near the $0.400 level. A clear move above the $0.3850 and $0.4000 resistance zones might start a fresh increase. In the stated case, the price could even surpass the $0.425 resistance. Any more gains might send the price towards the $0.4500 resistance.

Ripple Price

Ripple Price

Looking at the chart, ripple price is now trading above the $0.3500 zone and the 55 simple moving average (4-hours). Overall, the price could rise steadily if it stays above the $0.3750 and $0.3670 support 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 – $0.3750, $0.3670 and $0.3550.

Key Resistance Levels – $0.3850 and $0.4000.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *