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HomeAltcoin NewsRipple Price Analysis: Bulls In Control Above $1.10

Ripple Price Analysis: Bulls In Control Above $1.10

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  • Ripple price started a steady increase above the $1.00 resistance against the US dollar.
  • The price is now trading above $1.10 and the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $1.120 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could continue higher as long as it is above the $1.10 support zone.

Ripple price is showing positive signs above $1.10 against the US Dollar, similar to bitcoin. XRP price must clear $1.20 for more gains in the near term.

Ripple Price Analysis

After forming a base above $0.9500, ripple price started a fresh increase against the US Dollar. The XRP/USD pair broke the $0.9800 and $1.00 resistance levels to move into a positive zone.

The pair even surpassed the $1.100 resistance and the 55 simple moving average (4-hours). Finally, there was a spike above the $1.20 level and the price traded as high as $1.228. Recently, there was a downside correction below the $1.20 level.

The price declined below the 23.6% Fib retracement level of the recent increase from the $1.055 swing low to $1.228 high. However, dips remain limited below the $1.15 level.

The bulls were active near the 50% Fib retracement level of the recent increase from the $1.055 swing low to $1.228 high. There is also a key bullish trend line forming with support near $1.120 on the 4-hours chart of the XRP/USD pair.

The pair is now rising and trading above $1.15. On the upside, an initial hurdle is near the $1.20 level. The next key resistance is near the $1.22 level. A close above the $1.22 could set the pace for more gains. The next major resistance is near the $1.25 level. Any more gains could lead the price towards the $1.30 level.

On the downside, an initial support is near the $1.120 level. The first major support is near the $1.10 level. Any more losses could lead the price towards the $1.00 level in the near term.

Ripple Price
Ripple Price

Looking at the chart, ripple price is now trading above $1.10 and the 55 simple moving average (4-hours). Overall, the price could continue higher as long as it is above the $1.10 support zone.

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 now above the 50 level.

Key Support Levels – $1.12, $1.10 and $1.00.

Key Resistance Levels – $1.20 and $1.25.

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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