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HomeAltcoin NewsRipple Price Analysis: Chances of More Upsides Above $0.26

Ripple Price Analysis: Chances of More Upsides Above $0.26

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  • Ripple price is gaining pace above the $0.2480 and $0.2500 resistance levels against the US dollar.
  • There is a key bullish trend line forming with support near $0.2480 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair is likely to climb further above $0.2600 as long as it is above $0.2455.

Ripple price is trading is a positive zone above $0.2500 against the US Dollar. XRP price is likely to continue higher if it clears the $0.2600 resistance zone.

Ripple Price Analysis

In the past few sessions, there was a steady rise in ripple price above the $0.2455 resistance against the US Dollar. The XRP/USD pair broke the $0.2500 resistance level to move further into a positive zone.

There was also a close above the $0.2500 level and the 55 simple moving average (4-hours). A high is formed near $0.2607 and the price is currently consolidating gains. It corrected lower below the $0.2575 level.

There was also a break below the 23.6% Fib retracement level of the upward move from the $0.2410 low to $0.2607 high. On the downside, the first major support is near the $0.2510 and $0.2500 levels (a multi-touch zone).

The 50% Fib retracement level of the upward move from the $0.2410 low to $0.2607 high is also near the $0.2510 level. Moreover, there is a key bullish trend line forming with support near $0.2460 on the 4-hours chart of the XRP/USD pair.

The main support forming near the $0.2450 level (the previous breakout zone). A downside break below the trend line support and $0.2450 may perhaps start a steady decline. The next major support is near the $0.2350 level.

On the upside, the $0.2580 and $0.2600 levels are initial hurdles. A clear break above the $0.2600 level is likely to accelerate the pair towards the $0.2650 and $0.2660 levels. The next major resistance is near the $0.2720 level, above which the price may even test the $0.2850 level.

Ripple Price
Ripple Price

Looking at the chart, ripple price is clearly trading nicely above $0.2500 and the 55 simple moving average (4-hours). Therefore, the price is likely to climb further above $0.2600 as long as it is above $0.2455.

Technical indicators

4 hours MACD – The MACD for XRP/USD is showing positive signs in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now correcting lower towards the 50 level.

Key Support Levels – $0.2500, $0.2480 and $0.2450.

Key Resistance Levels – $0.2580 and $0.2600.

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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