Ripple is steadily rising above the $0.380 resistance zone against the US Dollar. XRP price could rise further if it breaches the $0.4320 resistance zone.
Ripple is currently rising above the $0.38 resistance zone against the US Dollar. The price is now trading above $0.380 and the 100 simple moving average (4-hours). A key uptrend line is forming with support near $0.3960 on the 4-hours chart of the XRP/USD pair (data feed from Kraken). The pair could go higher if there is a clear move above the $0.4320 resistance zone.
Ripple price begins a steady rise
After forming a base above $0.32, Ripple’s XRP began a steady rise against the US dollar. The price rose above the $0.35 resistance zone to turn into a positive zone.
The bulls pushed the price above the $0.365 level and the 100 simple moving average (4-hours). The rise was such that the xrp price even broke above the $0.40 level. It traded at a new yearly high of $0.4324 and is currently consolidating gains, similar to bitcoin.
The price is now trading above $0.380 and the 100 simple moving average (4-hours). There is also a key bullish trend line forming with support near $0.3960 on the 4-hours chart of the XRP/USD pair. The pair is stable above the 23.6% Fibonacci retracement level of the up move from the $0.3655 low to $0.4324 high.
Source: XRPUSD on TradingView.com
An immediate resistance is near the $0.432 zone. The next key resistance is near the $0.45 level. A successful break above the $0.450 resistance could send the price looking towards the $0.480 resistance. More gains could send the price looking towards the $0.50 level over the next few sessions.
Limited dips in XRP?
If the ripple fails to clear the $0.432 resistance zone, a correction to the downside could begin. An initial support on the downside is near the $0.416 level.
The next major support is near $0.400 and the trend line. It is near the 50% Fib retracement level of the up move from the $0.3655 low to $0.4324 high. If there is a break down and it closes below the $0.40 level, xrp price could extend losses. In the indicated case, the price could even dip below the $0.365 support.
technical indicators
4 Hours MACD – The MACD for XRP/USD is now picking up pace in the bullish zone.
4 Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major support levels: $0.416, $0.400, and $0.392.
Major resistance levels: $0.432, $0.450 and $0.480.
This post Key bullish breakout could trigger a rally to $0.5
was published first on https://newsbtc.com/analysis/xrp/xrp-price-prediction-rally-to-0-5/
