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: Altcoin News, News, Ripple, Trading, XRP
This could be interesting, too:
Bitcoin Schweiz News writes Die besten Bitcoin-Börsen für die Schweiz: Sortiert nach Trustpilot-Rating
Bitcoin Schweiz News writes Diese Produkte bietet Ripple Labs an: Eine Übersicht über die Innovationen für den Finanzsektor
Bitcoin Schweiz News writes Ripple und die Banken: Kann XRP das globale Finanzsystem revolutionieren?
Bitcoin Schweiz News writes Diese 3 Bitcoin-Börsen sind für Anfänger besonders geeignet
- 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
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.