• Ripple price climbed higher this past week towards the $0.3800 resistance area against the US dollar.
  • The price traded as high as $0.3850 and recently corrected lower below $0.3700.
  • There is a crucial bullish trend line in place with support at $0.3480 on the 4-hours chart of the XRP/USD pair (data source from Poloniex).
  • The price is likely to surge higher once it clears the $0.3800 and $0.3850 resistance levels.

Ripple price is consolidating above the $0.3500 support area against the US Dollar. XRP might start a significant upward move towards $0.4000 once it clears the $0.3850 resistance.

Ripple Price Analysis

This past week, there was a short term downside correction in bitcoin, Ethereum, bitcoin cash, ADA and ripple against the US Dollar. Earlier, the XRP/USD pair started a solid upward move and climbed higher from the $0.3000 support area. It broke the $0.3250 and $0.3280 resistance levels to move into a positive zone. Finally, buyers gained control and pushed the price above the $0.3550 and $0.3620 resistance levels. The price rallied towards the $0.3800 level and settled above the 55 simple moving average (4-hours).

Later, there was a downside correction, but the price found support near $0.3280. There was a fresh rally and the price traded to a new yearly high at $0.3850. However, the price failed to stay above the $0.3800 level and recently corrected below $0.3700. There was even a break below the 50% Fib retracement level of the last wave from the $0.3249 low to $0.3850 high.

To the downside, there is a strong support formed near $0.3500. The recent drop was protected by the 61.8% Fib retracement level of the last wave from the $0.3249 low to $0.3850 high. There is also a crucial bullish trend line in place with support at $0.3480 on the 4-hours chart of the XRP/USD pair. The pair is currently trading with a positive bias below the $0.3800 resistance area. Buyers need to clear the $0.3800 and $0.3850 resistances for more upsides in the near term.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price seems to be setting up for the next significant break either above $0.3800 or below $0.3500. To the upside, a clear break above the $0.3850 is likely to push the price towards the $0.4000 level. The next key resistance above $0.4000 is near $0.4120. Conversely, a downside break below $0.3500 might push the price back towards $0.3280.

Technical indicators

4 hours MACD – The MACD for XRP/USD is currently flat in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently placed nicely above the 50 level.

Key Support Levels – $0.3600, $0.3550 and $0.3500.

Key Resistance Levels – $0.3800 and $0.3850.

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