Ripple Price Technical Analysis – XRP/USD Grinding Higher

Aayush Jindal

1 year ago

2 mins read

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Key Highlights

Ripple price is gaining momentum and is currently trading above the $1.0500 support against the US dollar.
There is an ascending channel forming with support at $1.0000 on the hourly chart of the XRP/USD pair (data source from SimpleFx).
The pair may continue to rise in the short term towards the $1.12 and $1.15 levels.

Ripple price is slowly gaining upside momentum against the US Dollar and Bitcoin. XRP/USD could continue to rise and it may even test the $1.15 level.

Ripple Price Upside Move

There are decent bullish signs above $0.9500 in Ripple price against the US Dollar. The price started a slow and steady rise from the $0.9190 low and moved above the $0.9500 and $1.0000 resistance. It was successful in breaking the 50% Fib retracement level of the last decline from the $1.1755 high to $0.8398 low. It cleared the path for more gains and the price was able to move above the $1.05 resistance.

It recently tested the $1.09 and $1.10 resistance levels where the upside move paused. The main reason was the 76.4% Fib retracement level of the last decline from the $1.1755 high to $0.8398 low. Buyers failed to push the price above the $1.10 and later a consolidation phase was initiated. It seems like there is an ascending channel forming with support at $1.0000 on the hourly chart of the XRP/USD pair. The channel resistance is also near $1.10 and it acted as a barrier for more upsides.

On the upside, a break above the $1.10 level could push the price towards the last high of $1.17. On the downside, the price remains supported above the $1.00 and $0.90 levels in the near term.

Looking at the technical indicators:

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

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

Major Support Level – $0.9500

Major Resistance Level – $1.1000

Charts courtesy – SimpleFX

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.

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.

Comments 1

Jack F. Trolls says:

8 years ago

It seems to b policy to always publish yesterdays news as if to say, look how right we would have been if we just had posted this a day earlier… we wish you massive prophets !

Reply

Comments 1

Jack F. Trolls says:

8 years ago

It seems to b policy to always publish yesterdays news as if to say, look how right we would have been if we just had posted this a day earlier… we wish you massive prophets !

Reply