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Ripple (XRP)

XRP Price Prediction: Ripple Near Make-or-Break Levels, $0.5 Is The Key

Aayush Jindal by Aayush Jindal
2 months ago
in XRP
Reading Time: 2 mins read

Ripple started a downside correction below the $0.5350 level against the US Dollar. XRP price must stay above $0.50 and $0.482 to start a fresh increase in the near term.

  • Ripple started a downside correction from the $0.5850 resistance against the US dollar.
  • The price is now trading above $0.482 and the 100 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $0.500 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair might start a fresh increase unless there is a break below $0.482.

Ripple Price Revisits Key Support

This past week, ripple’s XRP climbed above the $0.5400 resistance against the US Dollar, outperforming Bitcoin and Ethereum. The price even spiked above $0.565 before the bears appeared.

It started a downside correction from the $0.5847 high. The price declined below the $0.565 and $0.550 levels. Finally, the bulls appeared near $0.500 and $0.482. A low is formed near $0.4822 and the price is now consolidating losses.

There was a minor increase above the 23.6% Fib retracement level of the downward move from the $0.5847 high to the $0.4822 low.

XRP price is now trading above $0.500 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.500 on the 4-hours chart of the XRP/USD pair. On the upside, an initial resistance is near the $0.5200 zone.

XRP Price Prediction

Source: XRPUSD on TradingView.com

The first major resistance is near the $0.5350 level. It is near the 50% Fib retracement level of the downward move from the $0.5847 high to the $0.4822 low. A successful break above the $0.535 resistance might send the price toward the $0.550 resistance. Any more gains might send the price toward the $0.585 level.

Are Dips Supported in XRP?

If ripple fails to clear the $0.535 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4980 level and the trend line.

The next major support is near $0.482. If there is a downside break and a close below the $0.482 level, XRP’s price could extend losses. In the stated case, the price could test the $0.420 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing 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 – $0.500, $0.482, and $0.420.

Major Resistance Levels – $0.520, $0.535, and $0.585.

Tags: RipplexrpXRPBTCXRPUSDxrpusdcxrpusdt
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Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

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