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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ripple Price Prediction: Can XRP Continue To Outperform Bitcoin?

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Ripple Price Prediction

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Ripple struggled to clear the $0.550 resistance against the US Dollar. XRP price is now moving lower and might drop further similar to bitcoin.

  • Ripple faced a strong selling interest near the $0.55 zone against the US dollar.
  • The price is now trading below $0.500 and the 100 simple moving average (4-hours).
  • There was a break below a key bullish trend line with support near $0.4940 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could decline heavily if there is a clear move below the $0.4650 support.

Ripple’s XRP Price Starts Decline

This past week, ripple’s XRP started a steady increase from the $0.4500 support zone. There was a clear move above the $0.480 and $0.505 resistance levels.

The price climbed above the $0.520 resistance, outperforming bitcoin and ethereum’s ether. However, the bulls failed once again to clear the key $0.550 resistance zone. A high was formed near $0.5486 and the price started a fresh decline.

XRP price declined below the $0.52 and $0.50 support levels. There was a move below the 50% Fib retracement level of the upward move from the $0.4417 swing low to $0.5486 high.

Besides, there was a break below a key bullish trend line with support near $0.4940 on the 4-hours chart of the XRP/USD pair. The price is now trading below $0.500 and the 100 simple moving average (4-hours).’Ripple's XRP Price Chart

Source: XRPUSD on TradingView.com

On the upside, the price is facing resistance near the $0.4825 level. The first major resistance is near the $0.500 zone. A successful break above the $0.50 and $0.505 resistance levels could spark another rally. The next key resistance is near the $0.520 level, above which the bulls are likely to aim a retest of the $0.55 barrier.

Downside Break in XRP?

If ripple fails to start a fresh increase above the $0.50 level, it could continue to move down. An initial support on the downside is near the $0.465 level. It is near the 61.8% Fib retracement level of the upward move from the $0.4417 swing low to $0.5486 high.

If there is a downside break and close below the $0.465 level, xrp price could start a major decline. In the stated case, the price is likely to drop towards the $0.42 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.465, $0.42 and $0.405.

Major Resistance Levels – $0.485, $0.505 and $0.550.

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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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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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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

Ad discliamer

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