HomeAltcoin NewsRipple Price Analysis: Rally Could Extend above $1.30

Ripple Price Analysis: Rally Could Extend above $1.30

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  • Ripple price started a fresh increase above the $1.20 resistance against the US dollar.
  • The price is now trading above $1.20 and the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $1.168 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could continue to move up if there is a clear break above $1.28.

Ripple price is slowly rising above $1.25 against the US Dollar, unlike bitcoin. XRP price must clear $1.28 for another increase in the near term.

Ripple Price Analysis

After forming a base above $1.05, ripple price started a fresh increase against the US Dollar. The XRP/USD pair broke the $1.15 and $1.20 resistance levels to move into a positive zone.

The pair even settled above the $1.20 level and the 55 simple moving average (4-hours). Finally, there was a spike above the $1.25 level. A high was formed near $1.276 and the price is now consolidating gains.

On the downside, an initial support is near the $1.235 level. It is near the 23.6% Fib retracement level of the recent increase from the $1.102 swing low to $1.276 high. The first major support is near the $1.22 level. The next major support is near the $1.18 level.

It is near the 50% Fib retracement level of the recent increase from the $1.102 swing low to $1.276 high. Besides, there is a key bullish trend line forming with support near $1.168 on the 4-hours chart of the XRP/USD pair.

Any more losses could lead the price towards the $1.10 level in the near term. On the upside, an initial hurdle is near the $1.276 level. The next key resistance is near the $1.28 level, above which the price could test $1.30. Any more gains could lead the price towards the $1.35 level.

Ripple Price
Ripple Price

Looking at the chart, ripple price is now trading above $1.20 and the 55 simple moving average (4-hours). Overall, the price could continue to move up if there is a clear break above $1.28.

Technical indicators

4 hours MACD – The MACD for XRP/USD is slowly gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 60 level.

Key Support Levels – $1.235, $1.20 and $1.18.

Key Resistance Levels – $1.276 and $1.30.

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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