HomeAltcoin NewsRipple Price Analysis: XRP Remains In Uptrend And $0.25 Seems Imminent

Ripple Price Analysis: XRP Remains In Uptrend And $0.25 Seems Imminent

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  • Ripple price found support near the $0.2140 area and recently recovered nicely against the US dollar.
  • The price seems to back in a positive zone above the $0.2200 resistance area.
  • There was a break above a major bearish trend line with resistance near $0.2230 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair is likely to continue higher towards the $0.2440 and $0.2500 resistance levels in the near term.

Ripple price is showing positive signs above $0.2200 against the US Dollar. XRP price remains is an uptrend and the bulls seem to be eyeing a test of $0.2500.

Ripple Price Analysis

After topping near the $0.2550 area, ripple price started a downside correction against the US Dollar. XRP/USD broke many support near $0.2300 and even declined below $0.2200.

There was a close below the $0.2300 level and the 55 simple moving average (4-hours). However, the price found a strong support near the $0.2140 area. A low is formed near $0.2134 and the price is currently rising.

It surpassed a few key hurdles near $0.2200 to move back into a positive zone. Besides, ripple price climbed above the 23.6% Fib retracement level of the recent decline from the $0.2537 high to $0.2134 low.

More importantly, there was a break above a major bearish trend line with resistance near $0.2230 on the 4-hours chart of the XRP/USD pair. The pair is now testing the $0.2300 resistance area and the 55 simple moving average (4-hours).

An immediate resistance is near the $0.2330 level. It is near the 50% Fib retracement level of the recent decline from the $0.2537 high to $0.2134 low.

A successful break above the 50 SMA and the $0.2330 resistance area might set the pace for more gains in the coming sessions. The next major resistance is near the $0.2440 level.

Any further gains could lead the price toward the $0.2500 resistance area. Conversely, the price may perhaps retreat from the $0.2300 and $0.2330 resistance levels.

An initial support is near the $0.2200 level. The main support is near the $0.2140 level, below which there are chances of a strong decline in the coming sessions.

Ripple Price
Ripple Price

Looking at the chart, ripple price is clearly showing positive signs above $0.2240. It seems like it could easily climb further towards $0.2440 and $0.2500 unless the bears push it back below $0.2200.

Technical indicators

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

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

Key Support Levels – $0.2240, $0.2200 and $0.2140.

Key Resistance Levels – $0.2330 and $0.2500.

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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