Ripple price is struggling to climb above the %excerpt%.2850 resistance area against the US dollar.The price is currently declining and it might test the %excerpt%.2645 support level.There is a key bearish trend line forming with resistance near %excerpt%.2805 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).The pair must climb above %excerpt%.2805 and %excerpt%.2850 to start a strong increase in the coming sessions.Ripple price is currently struggling below %excerpt%.2850 against the US Dollar. XRP price could dip towards the %excerpt%.2580 support before it might rise again towards %excerpt%.3000.Ripple Price AnalysisThis past week, ripple price found a strong support near %excerpt%.2645 and %excerpt%.2580 levels against the US Dollar. XRP/USD remained well bid and started a decent recovery above the %excerpt%.2720 level.There was a break above
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, Ripple, Trading, XRP
This could be interesting, too:
Bilal Hassan writes Morocco to Become First Developing Country with Clear Crypto Regulations
Bilal Hassan writes Cryptopia Liquidators Distribute 0 Million to Victims of 2019 Hack
Bilal Hassan writes Mo Shaikh Steps Down as CEO of Aptos Labs to Start New Chapter
Bilal Hassan writes FTX Announces January 2025 as Effective Date for Reorganization Plan
- Ripple price is struggling to climb above the $0.2850 resistance area against the US dollar.
- The price is currently declining and it might test the $0.2645 support level.
- There is a key bearish trend line forming with resistance near $0.2805 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
- The pair must climb above $0.2805 and $0.2850 to start a strong increase in the coming sessions.
Ripple price is currently struggling below $0.2850 against the US Dollar. XRP price could dip towards the $0.2580 support before it might rise again towards $0.3000.
Ripple Price Analysis
This past week, ripple price found a strong support near $0.2645 and $0.2580 levels against the US Dollar. XRP/USD remained well bid and started a decent recovery above the $0.2720 level.
There was a break above the 23.6% Fib retracement level of the downward move from the $0.3078 high to $0.2621 low. Besides, the price surpassed the $0.2820 resistance area.
However, the price faced a strong resistance near the $0.2850 level. Besides, the price remained well below the 55 simple moving average (4-hours). More importantly, there is a key bearish trend line forming with resistance near $0.2805 on the 4-hours chart of the XRP/USD pair.
It seems like the pair failed to continue above the 50% Fib retracement level of the downward move from the $0.3078 high to $0.2621 low. Ripple price is currently retreating from $0.2850 and it is trading below the $0.2800 level.
An initial support is near the $0.2720 level. The first key support is near the $0.2650 level, below which the price could continue to move down towards the $0.2585 level.
Any further losses may perhaps lead the price towards the $0.2325 support area in the near term. Conversely, the price could bounce back from $0.2645 or $0.2585. An initial resistance is near the $0.2805 level and the trend line.
However, the bulls need to gain momentum above the $0.2850 level and the 55 simple moving average (4-hours) to start a convincing upward move in the near term. The next major resistance is seen near the $0.3040 level.
Ripple Price
Looking at the chart, ripple price is clearly struggling below $0.2805 and $0.2850. Therefore, it could dip a few points in the short term, but it is likely to bounce back as long as it is above $0.2585.
Technical indicators
4 hours MACD – The MACD for XRP/USD is gaining momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now just below the 50 level.
Key Support Levels – $0.2645, $0.2585 and $0.2400.
Key Resistance Levels – $0.2850 and $0.3000.