Wednesday , August 4 2021
Home / Altcoins / Ripple Price Analysis: Chances of Fresh Rally above $0.26

Ripple Price Analysis: Chances of Fresh Rally above $0.26

Summary:
Ripple price started a fresh increase after it cleared the %excerpt%.2500 resistance against the US dollar.The price is now trading well above the %excerpt%.2520 pivot level and the 55 simple moving average (4-hours).There are two bullish trend lines forming with support near %excerpt%.2520 and %excerpt%.2480 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).The pair is likely to start a fresh rally if it clears the %excerpt%.2590 and %excerpt%.2600 resistance levels.Ripple price is trading is a bullish zone above %excerpt%.2520 against the US Dollar. XRP price is likely to accelerate further higher if it settles above the %excerpt%.2600 resistance zone.Ripple Price AnalysisThis past week, there was a strong increase in ripple price from the %excerpt%.2400 support zone against the US Dollar. The XRP/USD pair gained pace and broke

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

This could be interesting, too:

Nick Marinoff writes MicroStrategy: We Will NEVER Stop Buying Bitcoin!

Nick Marinoff writes Miami Is Set to Get Its Own Cryptocurrency This Month

Nick Marinoff writes Brian Brooks Discusses How He Got Into Crypto

Aayush Jindal writes Cardano (ADA) Price Analysis: Bulls Remain Active Above .20

  • Ripple price started a fresh increase after it cleared the $0.2500 resistance against the US dollar.
  • The price is now trading well above the $0.2520 pivot level and the 55 simple moving average (4-hours).
  • There are two bullish trend lines forming with support near $0.2520 and $0.2480 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair is likely to start a fresh rally if it clears the $0.2590 and $0.2600 resistance levels.

Ripple price is trading is a bullish zone above $0.2520 against the US Dollar. XRP price is likely to accelerate further higher if it settles above the $0.2600 resistance zone.

Ripple Price Analysis

This past week, there was a strong increase in ripple price from the $0.2400 support zone against the US Dollar. The XRP/USD pair gained pace and broke many important hurdles near $0.2500 and $0.2520.

There was also a close above the $0.2520 pivot level and the 55 simple moving average (4-hours). The pair rallied further above the $0.2600 resistance. It traded to a new monthly high near $0.2636 before starting a downside correction.

It declined below the $0.2550 and $0.2520 support levels, but remained well bid near $0.2500. A low is formed near $0.2502 and the price is currently rising. It broke the $0.2550 resistance level, plus the 23.6% Fib retracement level of the recent decline from the $0.2638 high to $0.2502 low.

An initial resistance is near the $0.2570 zone. It is close to the 50% Fib retracement level of the recent decline from the $0.2638 high to $0.2502 low. The main resistance is near the $0.2590 and $0.2600 levels, above which the price is likely to start a fresh rally.

On the downside, there are two bullish trend lines forming with support near $0.2520 and $0.2480 on the 4-hours chart of the XRP/USD pair.

The first trend line is important since it is close to the $0.2520 pivot level and the 55 simple moving average (4-hours). To start a strong decline, the bears need to gain pace below the $0.2500 and $0.2480 support levels.

Ripple Price

Ripple Price

Looking at the chart, ripple price is clearly trading nicely above the $0.2520 pivot level and the 55 simple moving average (4-hours). Therefore, the price is likely to start a fresh rally if it clears the $0.2590 and $0.2600 resistance levels.

Technical indicators

4 hours MACD – The MACD for XRP/USD is moving nicely in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is still well above the 50 level.

Key Support Levels – $0.2520, $0.2500 and $0.2480.

Key Resistance Levels – $0.2570 and $0.2600.

Tags: ,

Leave a Reply

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