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HomeAltcoin NewsRipple Price Analysis: XRP Could Struggle Above 0.485

Ripple Price Analysis: XRP Could Struggle Above 0.485

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  • Ripple price started a fresh decline from the $0.4950 zone against the US dollar.
  • The price is now trading below $0.485 and the 55 simple moving average (4 hours).
  • There is a major bearish trend line forming with resistance near $0.476 on the 4-hour chart of the XRP/USD pair (data source from Bittrex).
  • The pair could extend losses if it stays below the $0.485 resistance zone.

Ripple price is struggling below $0.485 against the US Dollar, similar to Bitcoin. XRP price could decline further if it settles below the $0.455 support in the near term.

Ripple Price Analysis

This past week, Ripple price started a fresh decline from well above $0.4950 against the US Dollar. The XRP/USD pair gained bearish momentum below the $0.4850 level.

The bears were able to push the price below the $0.4800 support. It even traded below the 55 simple moving average (4 hours) and spiked below the $0.462 support. A low is formed near $0.4580 and the price is now attempting a recovery wave.

XRP is now trading below $0.485 and the 55 simple moving average (4 hours). Besides, there is a major bearish trend line forming with resistance near $0.476 on the 4-hour chart of the XRP/USD pair.

On the upside, the price is facing resistance near $0.475 and the trend line. It is close to the 50% Fib retracement level of the downward move from the $0.4956 swing high to the $0.4580 low. The next major resistance is near the $0.4860 level.

It is close to the 61.8% Fib retracement level of the downward move from the $0.4956 swing high to the $0.4580 low. A clear move above the trend line resistance and $0.4860 might start a fresh increase. In the stated case, the price could even surpass the $0.495 resistance. Any more gains might send the price toward the $0.520 resistance.

Initial support on the downside is near $0.4550. The next major support is near the $0.4450 level. Any more losses could lead the price toward the $0.420 level, below which the price might even test $0.40.

Ripple Price
Ripple Price

Looking at the chart, Ripple’s price is now trading below the $0.485 zone and the 55 simple moving average (4 hours). Overall, the price could extend losses if it stays below the $0.455 resistance zone.

Technical indicators

4 hours MACD – The MACD for XRP/USD is now losing momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is below the 50 level.

Key Support Levels – $0.4550, $0.4450, and $0.4200.

Key Resistance Levels – $0.4760 and $0.4850.

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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