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Ripple Price Technical Analysis – XRP/USD Showing Positive Signs

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Ripple Price Technical Analysis XRP USD

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Key Highlights

  • Ripple price started an upside recovery and moved above the $0.4800 level against the US dollar.
  • There was a break above yesterday’s highlighted crucial bearish trend line with resistance at $0.4880 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair may continue to rise towards the next resistance near the $0.5180 level.

Ripple price is showing a few positive signs against the US Dollar and Bitcoin. XRP/USD could correct further higher as long as it is above $0.4800.

Ripple Price Support

There was a decent upside move started from the $0.4485 swing low in Ripple price against the US Dollar. The price traded higher and succeeded in trading above the $0.4750 resistance. Moreover, there was a break above the 23.6% Fib retracement level of the last downside move from the $0.5491 high to $0.4487 low. These are positive signs above the $0.4750 level.

More importantly, there was a break above yesterday’s highlighted crucial bearish trend line with resistance at $0.4880 on the hourly chart of the XRP/USD pair. The pair also succeeded in settling above the $0.4800 level and the 100 hourly simple moving average. At the moment, the price is trading just above the 50% Fib retracement level of the last downside move from the $0.5491 high to $0.4487 low. It may continue to rise towards the $0.5100 and $0.5180 resistance levels if the price gains traction.

Ripple Price Technical Analysis XRP USD

Above $0.5180, the price could even trade towards the $0.5500 level. On the downside, the 100 hourly SMA and $0.4900 is a short-term support. Below $0.4900, the $0.4800 support must holds declines. If the price fails to stay above $0.4800, there could be a retest of the $0.4500 level.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slowly gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well above the 50 level.

Major Support Level – $0.4800

Major Resistance Level – $0.5180

 

Charts courtesy – Trading View

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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