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HomeAltcoin NewsRipple Price Analysis: Fresh Rally If XRP Clears $0.82

Ripple Price Analysis: Fresh Rally If XRP Clears $0.82

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  • Ripple price is struggling to gain pace above the $0.82 zone against the US dollar.
  • The price is now trading below $0.80 and the 55 simple moving average (4-hours).
  • There is a major bearish trend line forming with resistance near $0.8200 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could continue to move up if it clears the $0.8200 resistance level.

Ripple price is trading in a bullish zone above $0.7500 against the US Dollar, unlike bitcoin. XRP price could start a fresh increase if it clears the $0.8200 resistance zone.

Ripple Price Analysis

In the past few days, ripple price gained pace and settled above $0.7500 against the US Dollar. The XRP/USD pair even broke the $0.8200 resistance zone to move into a positive zone.

Finally, there was a spike above the $0.9000 level. A high was formed near $0.9165 before there was a downside correction. There was a break below the $0.8500 and $0.8200 support levels. The price even declined below the 23.6% Fib retracement level of the key increase from the $0.5895 swing low to $0.9165 high.

The pair even declined below the $0.8000 level and the 55 simple moving average (4-hours). However, the bulls were active above the $0.7500 support zone.

XRP is stable above the 50% Fib retracement level of the key increase from the $0.5895 swing low to $0.9165 high. An immediate resistance is near the $0.8000 level and the 55 simple moving average (4-hours). The next key resistance is near the $0.8200 level.

There is also a major bearish trend line forming with resistance near $0.8200 on the 4-hours chart of the XRP/USD pair. Any more gains could lead the price towards the $0.9000 level. If there is no upside break above $0.8200, the price could continue to move down.

An immediate support on the downside is near the $0.7600 level. The next major support is near the $0.7500 level. Any more losses could lead the price towards the $0.7000 level in the near term.

Ripple Price
Ripple Price

Looking at the chart, ripple price is now trading below $0.8000 and the 55 simple moving average (4-hours). Overall, the price could continue to move up if it clears the $0.8200 resistance level.

Technical indicators

4 hours MACD – The MACD for XRP/USD is now losing momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is near the 50 level.

Key Support Levels – $0.7600, $0.7500 and $0.7000.

Key Resistance Levels – $0.8000 and $0.8200.

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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