HomeAltcoin NewsRipple Price Analysis: Bulls Aim Fresh Surge To $0.52

Ripple Price Analysis: Bulls Aim Fresh Surge To $0.52

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  • Ripple price started a downside correction from the $0.5250 zone against the US dollar.
  • The price is now trading near $0.482 and the 55 simple moving average (4 hours).
  • There was a break above a key bearish trend line with resistance near $0.472 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a fresh increase above the $0.495 resistance.

Ripple price is consolidating near $0.482 against the US Dollar, similar to Bitcoin. XRP price must stay above the $0.470 support to start a fresh increase.

Ripple Price Analysis

This past week, Ripple price saw a downside correction below the $0.500 support against the US Dollar. The XRP/USD pair even declined below the $0.4650 level.

The price traded as low as $0.4460 before the bulls appeared. The price started a fresh increase above the $0.4650 resistance zone. It cleared the 23.6% Fib retracement level of the downward move from the $0.5263 swing high to the $0.4460 low.

There was a break above a key bearish trend line with resistance near $0.472 on the 4-hour chart of the XRP/USD pair. XRP is now trading near $0.482 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near $0.485. The next major resistance is near the $0.495 level or the 61.8% Fib retracement level of the downward move from the $0.5263 swing high to the $0.4460 low. A clear move above the $0.495 resistance zone might start a strong increase.

In the stated case, the price could even surpass the $0.500 resistance. Any more gains might send the price toward the $0.5250 resistance.

Initial support on the downside is near the $0.470 level. The next major support is near the $0.465 level. Any more losses could lead the price toward the $0.450 level, below which the price might even test $0.440.

Ripple Price
Ripple Price

Looking at the chart, Ripple’s price is now trading near the $0.482 zone and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase above the $0.495 resistance.

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 – $0.472, $0.465, and $0.450.

Key Resistance Levels – $0.495 and $0.50.

Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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