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HomeAltcoin NewsRipple Price Analysis: Bulls Eye Fresh Increase above $0.80

Ripple Price Analysis: Bulls Eye Fresh Increase above $0.80

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  • Ripple price is struggling to clear the $0.80 resistance zone against the US dollar.
  • The price is now trading above $0.72 and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $0.7450 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could start a fresh increase unless there is a clear move below the $0.7080 support zone.

Ripple price is trading in a bullish zone above $0.7080 against the US Dollar, unlike bitcoin. XRP price must stay above $0.7080 to avoid more downsides.

Ripple Price Analysis

In the past few sessions, ripple price attempted an upside break above $0.8000 against the US Dollar. The XRP/USD pair spiked above the $0.8400 level, but it failed to gain strength for a move above $0.8500.

As a result, there was a bearish reaction below $0.8200. The price declined below the $0.8000 support level. There was a clear move below the $0.7800 support zone, but the price stayed above the 55 simple moving average (4-hours).

There is also a major bullish trend line forming with support near $0.7450 on the 4-hours chart of the XRP/USD pair. A low is formed near $0.7468 and the price is now rising.

It is facing resistance near the $0.7700 zone. The stated level is close to the 23.6% Fib retracement level of the recent decline from the $0.8486 swing high to $0.7468 low. The next key resistance is near the $0.8000 level.

The 50% Fib retracement level of the recent decline from the $0.8486 swing high to $0.7468 low is also near $0.8000. Any more gains could lead the price towards the $0.8200 level. The main hurdle is still near $0.8500, above which the price could start a major increase to $0.9200.

An immediate support on the downside is near the $0.7500 level. The next major support is near the $0.7450 level. Any more losses could lead the price towards the $0.7080 level in the near term, below which the price might even test $0.6800.

Ripple Price
Ripple Price

Looking at the chart, ripple price is now trading above $0.7200 and the 55 simple moving average (4-hours). Overall, the price could start a fresh increase unless there is a clear move below the $0.7080 support zone.

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 – $0.7450, $0.7200 and $0.7080.

Key Resistance Levels – $0.8000 and $0.8500.

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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