Ripple price surged and traded close to the %excerpt%.4000 resistance against the US dollar. The price is now trading below %excerpt%.3500 and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near %excerpt%.3300 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%.3400 and %excerpt%.3350 support levels. Ripple price is correcting gains from %excerpt%.4000 against the US Dollar, similar to bitcoin. XRP price must stay above %excerpt%.3400 and %excerpt%.3350 to continue higher. Ripple Price Analysis After forming a base near the %excerpt%.3215 zone, ripple price started a fresh increase against the US Dollar. The XRP/USD pair was able to clear the %excerpt%.3500 resistance zone. The price even broke the
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 surged and traded close to the $0.4000 resistance against the US dollar.
- The price is now trading below $0.3500 and the 55 simple moving average (4-hours).
- There was a break above a key bearish trend line with resistance near $0.3300 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
- The pair could rise steadily if it stays above the $0.3400 and $0.3350 support levels.
Ripple price is correcting gains from $0.4000 against the US Dollar, similar to bitcoin. XRP price must stay above $0.3400 and $0.3350 to continue higher.
Ripple Price Analysis
After forming a base near the $0.3215 zone, ripple price started a fresh increase against the US Dollar. The XRP/USD pair was able to clear the $0.3500 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 $0.3300 on the 4-hours chart of the XRP/USD pair. XRP climbed above the $0.3850 resistance zone, but it faced sellers near the $0.4000 zone.
A high was formed near $0.3979 and the price started a sharp downside correction. There was a move below the 50% Fib retracement level of the upward move from the $0.3216 swing low to $0.3979 high.
It is now trading below $0.3500 and the 55 simple moving average (4-hours). An initial support on the downside is near the $0.3400 level. It is near the 76.4% Fib retracement level of the upward move from the $0.3216 swing low to $0.3979 high.
The next major support is near the $0.3335 level. Any more losses could lead the price towards the $0.3200 level, below which the price might even test $0.3000.
On the upside, the price is facing resistance near $0.3510. The next major resistance is near the $0.3600 level. A clear move above the $0.3600 resistance zone might start a fresh increase. In the stated case, the price could even surpass the $0.3750 resistance. Any more gains might send the price towards the $0.4000 resistance.
Ripple Price
Looking at the chart, ripple price is now trading below the $0.3500 zone and the 55 simple moving average (4-hours). Overall, the price could rise steadily if it stays above the $0.3400 and $0.3350 support levels.
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 below the 50 level.
Key Support Levels – $0.3400, $0.3335 and $0.3200.
Key Resistance Levels – $0.3600 and $0.3750.