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Ripple Price Analysis: Upsurge is Far From Over, $0.50 Next?

Summary:
Ripple price started a strong increase above the %excerpt%.3000 and %excerpt%.3550 resistance levels against the US dollar.The price gained over 40% in the past few days and settled above the 55 simple moving average (4-hours).There is a key bullish continuation pattern forming with resistance near %excerpt%.4740 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).The pair is likely to start another surge if it clears the %excerpt%.4750 and %excerpt%.4800 resistance levels.Ripple price is trading in a nice uptrend above %excerpt%.4000 against the US Dollar. XRP price is showing signs of more upsides above the %excerpt%.4750 and %excerpt%.4800 levels.Ripple Price AnalysisThis past week, there was a strong upward move in ripple price above the %excerpt%.3000 resistance against the US Dollar. The XRP/USD pair broke the %excerpt%.3500 resistance

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  • Ripple price started a strong increase above the $0.3000 and $0.3550 resistance levels against the US dollar.
  • The price gained over 40% in the past few days and settled above the 55 simple moving average (4-hours).
  • There is a key bullish continuation pattern forming with resistance near $0.4740 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair is likely to start another surge if it clears the $0.4750 and $0.4800 resistance levels.

Ripple price is trading in a nice uptrend above $0.4000 against the US Dollar. XRP price is showing signs of more upsides above the $0.4750 and $0.4800 levels.

Ripple Price Analysis

This past week, there was a strong upward move in ripple price above the $0.3000 resistance against the US Dollar. The XRP/USD pair broke the $0.3500 resistance zone to start a massive rally.

The bulls gained strength, resulting in a 40%+ surge. The price broke many hurdles near $0.4000 and $0.4500. It even spiked above $0.4500 and settled well above the 55 simple moving average (4-hours). A new multi-month high was formed near $0.4920 before the price corrected lower.

There was a break below the $0.4800 and $0.4650 levels. However, the price found support near $0.4050 and it is currently rising. The recent high was formed near $0.4824 before the price corrected below $0.4750.

There was a break below the 50% Fib retracement level of the upward move from the $0.4065 swing low to $0.4824 high. On the downside, the price is finding bids near the $0.4400 level. There is also a key bullish continuation pattern forming with resistance near $0.4740 on the 4-hours chart of the XRP/USD pair.

The triangle support is close the 61.8% Fib retracement level of the upward move from the $0.4065 swing low to $0.4824 high. On the upside, ripple price is facing hurdles near $0.4750 and $0.4800.

A successful break above the $0.4800 level could lead the price towards the $0.5000 resistance. The next key resistance on the upside is near the $0.5200 level. Conversely, the price could break the triangle support and then $0.4350 to correct lower.

Ripple Price

Ripple Price

Looking at the chart, ripple price is clearly is holding gains above $0.4000 and the 55 simple moving average (4-hours). Overall, the price is likely to start another surge if it clears the $0.4750 and $0.4800 resistance levels.

Technical indicators

4 hours MACD – The MACD for XRP/USD is currently losing momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD corrected lower and it is near the 70 level.

Key Support Levels – $0.4450, $0.4350 and $0.4050.

Key Resistance Levels – $0.4750 and $0.5000.

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