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HomeAltcoin NewsRipple Price Analysis: Upside Break Looms At $0.485

Ripple Price Analysis: Upside Break Looms At $0.485

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  • Ripple price is facing resistance near the $0.485 level against the US dollar.
  • The price is now trading above $0.470 and the 55 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $0.4640 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a major increase above the $0.4850 resistance.

Ripple price is rising above $0.4750 against the US Dollar, similar to Bitcoin. XRP price must stay above the $0.4700 support to remain in a bullish zone.

Ripple Price Analysis

After forming a base above the $0.4120 level, Ripple price started a fresh increase against the US Dollar. The XRP/USD pair broke the $0.432 resistance to move into a positive zone.

There was a clear move above the $0.450 resistance and the 55 simple moving average (4 hours). The bulls even pushed the price above the $0.470 resistance. A high is formed near $0.4861 and the price is now consolidating gains.

It is now trading above $0.470 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near $0.4850. The next major resistance is near the $0.4880 level.

A clear move above the $0.4880 resistance zone might start a strong increase. In the stated case, the price could even surpass the $0.4920 resistance. Any more gains might send the price toward the $0.5120 resistance. Initial support on the downside is near the $0.4760 level or the 23.6% Fib retracement level of the upward move from the $0.4433 swing low to the $0.4861 high.

The next major support is near the $0.4700 level. There is also a key bullish trend line forming with support near $0.4640 on the 4-hour chart of the XRP/USD pair.

The trend line is near the 50% Fib retracement level of the upward move from the $0.4433 swing low to the $0.4861 high. Any more losses could lead the price toward the $0.4500 level, below which the price might even test $0.4320.

Ripple Price
Ripple Price

Looking at the chart, Ripple price is now trading above the $0.47 zone and the 55 simple moving average (4 hours). Overall, the price could start a major increase above the $0.4850 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 – $0.476, $0.470, and $0.450.

Key Resistance Levels – $0.4850 and $0.4880.

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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