HomeAltcoin NewsRipple Price Analysis: Bulls Could Gain Strength Above $0.865

Ripple Price Analysis: Bulls Could Gain Strength Above $0.865

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  • Ripple price started a recovery wave from the $0.8000 zone against the US dollar.
  • The price is now trading below $0.88 and the 55 simple moving average (4-hours).
  • There is a connecting resistance trend line near $0.8650 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could continue to move up if there is a clear break above the $0.8650 resistance.

Ripple price is struggling below $0.900 against the US Dollar, like bitcoin. XRP price could extend recovery if there is a move above the $0.900 hurdle.

Ripple Price Analysis

After struggling to clear the $0.9500 zone, ripple price started a fresh decline against the US Dollar. The XRP/USD pair declined below the $0.9000 support zone to move into a bearish zone.

The pair declined sharply below the $0.8500 level and the 55 simple moving average (4-hours). The pair traded as low as $0.8032 and currently recovering losses. There was a recovery wave above the $0.8200 level. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $0.9555 swing high to $0.8032 low.

On the upside, the price is facing resistance near the $0.8650 level. There is also a connecting resistance trend line near $0.8650 on the 4-hours chart of the XRP/USD pair.

The next key resistance is near the $0.8800 level. It is near the 50% Fib retracement level of the downward move from the $0.9555 swing high to $0.8032 low. A close above the $0.8800 level could push the price towards the $0.900- level.

The next major resistance is near the $1.00 level. Any more gains could lead the price towards the $1.12 level. If there is no upside break above $0.8650, the price could resume decline. The next major support is near the $0.8320 level. Any more losses could lead the price towards the $0.8000 level in the near term.

Ripple Price
Ripple Price

Looking at the chart, ripple price is now trading below $0.90 and the 55 simple moving average (4-hours). Overall, the price could continue to move up if there is a clear break above the $0.8650 resistance.

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 near the 50 level.

Key Support Levels – $0.8320, $0.820 and $0.800.

Key Resistance Levels – $0.865 and $0.880.

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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