HomeAltcoin NewsRipple Price Analysis: XRP Signaling Upside Acceleration Above $0.4300

Ripple Price Analysis: XRP Signaling Upside Acceleration Above $0.4300

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  • Ripple price started a fresh increase above the key $0.3880 resistance against the US dollar.
  • The price broke the $0.4000 resistance area to move into a positive zone.
  • There was a break above a major bearish trend line with resistance near $0.3880 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The price is currently gaining momentum and it is likely to climb above $0.4200 and $0.4400.

Ripple price is gaining momentum above $0.4100 against the US Dollar. XRP is likely to continue higher above $0.4200 and any dips remain supported near $0.4000.

Ripple Price Analysis

This past week, there was a downside correction in bitcoin, Ethereum, bitcoin cash, ADA and ripple against the US Dollar. The XRP/USD pair tested the $0.3600-0.3620 support area and later started a slow and steady rise. It broke the $0.3850 resistance level and the 23.6% Fib retracement level of the downward move from the $0.4281 high to $0.3622 swing low. However, the upward move was capped by the $0.3950 resistance and the 55 simple moving average (4-hours).

Recently, there was a fresh increase in buying interest, sparking bullish moves above $0.3850 and $0.3900. Moreover, there was a break above a major bearish trend line with resistance near $0.3880 on the 4-hours chart of the XRP/USD pair. The pair settled above the $0.3950 resistance and the 55 simple moving average (4-hours). Besides, the price spiked above the 76.4% Fib retracement level of the downward move from the $0.4281 high to $0.3622 swing low. If there is a clear break above the $0.4260 and $0.4300 resistance levels, there could be strong gains in the near term.

The next key resistance is near the $0.4450 level. It coincides with the 1.236 Fib extension level of the downward move from the $0.4281 high to $0.3622 swing low. Conversely, if there is a downside correction, the price may find support near the $0.4040 or $0.4020 level. The main support is near the $0.3950 level or the 55 simple moving average (4-hours). Therefore, if there is a downside correction, the price might find a strong buying interest near $0.4000.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is clearly trading with a positive bias above the $0.4000 pivot level. On the upside, a break above the $0.4250 and $0.4260 levels is must for upside continuation. If the bulls remain in action, there could be a push towards the $0.4450 level in the coming sessions.

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 jumped above the 50 level, with a bullish angle.

Key Support Levels – $0.4020, $0.4000 and $0.3950.

Key Resistance Levels – $0.4260 and $0.4450.

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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