HomeAltcoin NewsRipple Price Analysis: Rally Could Resume Above $0.95

Ripple Price Analysis: Rally Could Resume Above $0.95

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  • Ripple price started a fresh increase above the $0.800 zone against the US dollar.
  • The price is now trading above $0.90 and the 55 simple moving average (4-hours).
  • There was a break below a key bullish trend line with support near $0.9320 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 the $0.950 resistance.

Ripple price is gaining pace above $0.900 against the US Dollar, like bitcoin. XRP price could extend gains if there is a move above the $0.950 hurdle.

Ripple Price Analysis

After forming a base above the $0.7700 level, ripple price started a fresh increase against the US Dollar. The XRP/USD pair cleared the $0.8200 resistance zone to move into a positive zone.

The pair even climbed above the $0.9000 zone and the 55 simple moving average (4-hours). The pair even climbed above the $0.9500 resistance. Finally, there was a spike above the $1.00 level. A high was formed near $1.016 before there was a downside correction.

The price corrected lower below the $0.9800 and $0.9600 levels. The price corrected lower below the 23.6% Fib retracement level of the upward move from the $0.7762 swing low to $1.016 high.

There was a break below a key bullish trend line with support near $0.9320 on the 4-hours chart of the XRP/USD pair. However, the bulls remained active near the $0.9000 zone. The 50% Fib retracement level of the upward move from the $0.7762 swing low to $1.016 high also acted as support.

Any more losses could lead the price towards the $0.8500 level in the near term. On the upside, the price is facing resistance near the $0.9320 level. The next key resistance is near the $0.9500 level. A close above the $0.9500 level could push the price towards the $1.00 level.

The next major resistance is near the $1.05 level. Any more gains could lead the price towards the $1.10 level. An intermediate resistance might be near the $1.065 level.

Ripple Price
Ripple Price

Looking at the chart, ripple price is now trading above $0.90 and the 55 simple moving average (4-hours). Overall, the price could continue to move up if there is a clear break above the $0.950 resistance.

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 – $0.900, $0.850 and $0.820.

Key Resistance Levels – $0.9500 and $1.00.

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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