BTC / USD
16,984.66
0.36%
(-61.06)
ETH / USD
1,255.92
0.3%
(-3.8)
XRP / USD
0.39
1.25%
(-0)
LTC / USD
79.45
1.72%
(-1.39)
EOS / USD
0.96
2.59%
(+0.02)
BCH / USD
111.20
1.58%
(-1.79)
ADA / USD
0.32
1.25%
(-0)
XLM / USD
0.09
1.56%
(-0)
NEO / USD
7.11
2.82%
(+0.19)
XEM / USD
0.03
0.3%
(-0)
DASH / USD
46.04
1.75%
(-0.82)
USDT / USD
1.00
0%
(0)
BNB / USD
288.34
0.27%
(-0.77)
QTUM / USD
2.20
0.05%
(0)
XVG / USD
0.00
0.67%
(-0)
ONT / USD
0.19
0.59%
(-0)
ZEC / USD
45.46
0.57%
(-0.26)
STEEM / USD
0.18
1.41%
(-0)

Why The Bulls Could Aim Fresh Rally To $0.45

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Ripple remained well bid above the $0.35 support against the US Dollar. XRP price seems to be eyeing a fresh rally towards the $0.45 level.

  • Ripple started a decent increase from the $0.32 support zone against the US dollar.
  • The price is now trading above $0.350 and the 100 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $0.374 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a strong increase if it clears the $0.400 resistance zone.

Ripple Price Eyes Fresh Increase

After a strong decline, ripple’s XRP formed a base above the $0.320 zone against the US Dollar. The price started a decent increase above the $0.335 and $0.340 resistance levels.

The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $0.5099 swing high to $0.3200 swing low. Besides, there was a break above a major bearish trend line with resistance near $0.374 on the 4-hours chart of the XRP/USD pair.

XRP is rising steadily above the 100 simple moving average (4-hours) and outperforming both bitcoin and ethereum. The price is now facing hurdles near $0.395 and $0.400. The first major resistance is near the $0.415 level.

The 50% Fib retracement level of the downward move from the $0.5099 swing high to $0.3200 swing low is also near the $0.415 level. A successful break above the $0.415 resistance might send the price towards the $0.450 resistance.

Source: XRPUSD on TradingView.com

The next key resistance is near the $0.465 level. Any more gains might send the price towards the $0.50 level in the coming days.

Dips Supported in XRP?

If ripple fails to clear the $0.415 resistance zone, it could slowly move down. An initial support on the downside is near the $0.380 level and the 100 simple moving average (4-hours).

The next major support is near $0.345. If there is a downside break and close below the $0.345 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.320 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing 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 – $0.380, $0.345 and $0.320.

Major Resistance Levels – $0.400, $0.415 and $0.450.

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