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HomeAltcoin NewsRipple Price Analysis: More Gains Possible Above $0.9

Ripple Price Analysis: More Gains Possible Above $0.9

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  • Ripple price started a fresh increase above the $0.82 resistance zone against the US dollar.
  • The price is now trading above $0.82 and the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $0.8380 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could start another increase if it manages to clear the $0.9000 resistance zone.

Ripple price is trading in a bullish zone above $0.8200 against the US Dollar, unlike bitcoin. XRP price must clear $0.9000 to continue higher in the near term.

Ripple Price Analysis

In the past few sessions, ripple price saw a decent increase above the $0.8000 resistance zone against the US Dollar. The XRP/USD pair broke the $0.8200 zone to enter a positive zone.

There was a clear move above the $0.8500 zone and a close above the 55 simple moving average (4-hours). The price even surpassed the $0.8650 level and traded as high as $0.8722. It is now consolidating gains below $0.8720. An initial support is near the $0.8600 level.

It is near the 23.6% Fib retracement level of the upward move from the $0.8200 swing low to $0.8722 high. The next major support is near the $0.8460 level.

The 50% Fib retracement level of the upward move from the $0.8200 swing low to $0.8722 high is also near the 0.8460 level. Besides, there is a key bullish trend line forming with support near $0.8380 on the 4-hours chart of the XRP/USD pair.

The main support is near the $0.8200 zone and the 55 simple moving average (4-hours). Any more losses could lead the price towards the $0.8000 level in the near term, below which the price might even test $0.7500.

On the upside, the price is facing resistance near the $0.8750 zone. The next key resistance is near the $0.9000 level. Any more gains could lead the price towards the $0.9550 level.

Ripple Price
Ripple Price

Looking at the chart, ripple price is now trading above $0.8200 and the 55 simple moving average (4-hours). Overall, the price could start another increase if it manages to clear the $0.9000 resistance 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 above the 50 level.

Key Support Levels – $0.8600, $0.8450 and $0.8200.

Key Resistance Levels – $0.8750 and $0.9000.

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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