- Ripple price is moving higher above the $0.400 level against the US dollar.
- The price is now trading above $0.400 and the 55 simple moving average (4-hours).
- There is a key bullish trend line forming with support near $0.4120 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
- The pair could gain bullish momentum if it clears the $0.4300 resistance zone in the near term.
Ripple price is rising steadily above $0.400 against the US Dollar, unlike bitcoin. XRP price must clear $0.430 to continue higher in the coming sessions.
Ripple Price Analysis
After forming a base near the $0.3950 zone, ripple price started a fresh increase against the US Dollar. The XRP/USD pair was able to clear the $0.4000 resistance zone.
The price even broke the $0.4080 resistance and the 55 simple moving average (4-hours). The pair is now trading above the $0.400 resistance. It is also showing positive signs above $0.4120 and the 55 simple moving average (4-hours).
On the upside, the price is facing resistance near $0.4150. It is near the 50% Fib retracement level of the recent decline from the $0.4329 swing high to $0.3977 low.
The next major resistance is near the $0.4200 level. It is near the 61.8% the 50% Fib retracement level of the recent decline from the $0.4329 swing high to $0.3977 low. A clear move above the $0.4200 resistance zone might start a strong increase. In the stated case, the price could even surpass the $0.4320 resistance.
Any more gains might send the price towards the $0.4880 resistance. An initial support on the downside is near the $0.4120 level.
There is also a key bullish trend line forming with support near $0.4120 on the 4-hours chart of the XRP/USD pair. The next major support is near the $0.4000 level. Any more losses could lead the price towards the $0.3880 level, below which the price might even test $0.3700.
Looking at the chart, ripple price is now trading above the $0.400 zone and the 55 simple moving average (4-hours). Overall, the price could gain bullish momentum if it clears the $0.430 resistance zone in the near term.
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 above the 50 level.
Key Support Levels – $0.4120, $0.4000 and $0.3880.
Key Resistance Levels – $0.4200 and $0.432.
