HomeAltcoin NewsRipple Price Analysis: Bulls Eye Upside Break Above $0.4

Ripple Price Analysis: Bulls Eye Upside Break Above $0.4

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  • Ripple price gained pace and cleared the $0.3650 resistance against the US dollar.
  • The price is now trading above $0.365 and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $0.3740 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could rise steadily if it stays above the $0.3720 and $0.3650 support levels.

Ripple price is recovering above $0.3750 against the US Dollar, similar to bitcoin. XRP price must stay above $0.3720 and $0.3650 to continue higher.

Ripple Price Analysis

After forming a base near the $0.3550 zone, ripple price started a fresh increase against the US Dollar. The XRP/USD pair was able to clear the $0.3750 resistance zone.

The price even broke the $0.3850 resistance and the 55 simple moving average (4-hours). XRP climbed above the $0.4000 resistance zone. A high was formed near $0.4090 before there was a downside correction. The price declined below the 50% Fib retracement level of the upward move from the $0.3260 swing low to $0.4090 high.

However, the bulls were active near the $0.3550 support. The 61.8% Fib retracement level of the upward move from the $0.3260 swing low to $0.4090 high acted as a support.

The price is now rising, and trading above $0.3650 and the 55 simple moving average (4-hours). On the upside, the price is facing resistance near $0.3890. The next major resistance is near the $0.400 level. A clear move above the $0.3890 and $0.4000 resistance zones might start a fresh increase.

In the stated case, the price could even surpass the $0.420 resistance. Any more gains might send the price towards the $0.4500 resistance. An initial support on the downside is near the $0.3750 level.

There is also a major bullish trend line forming with support near $0.3740 on the 4-hours chart of the XRP/USD pair. The next major support is near the $0.3550 level. Any more losses could lead the price towards the $0.3350 level, below which the price might even test $0.3200.

Ripple Price
Ripple Price

Looking at the chart, ripple price is now trading above the $0.3650 zone and the 55 simple moving average (4-hours). Overall, the price could rise steadily if it stays above the $0.3720 and $0.3650 support levels.

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 – $0.3750, $0.3670 and $0.3550.

Key Resistance Levels – $0.3890 and $0.4000.

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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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