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Ripple (XRP)

XRP Price Prediction: 25% Surge Could Be Just Start of A Larger Trend

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

Ripple rallied above the $0.400 and $0.450 resistance levels against the US Dollar. XRP price is up over 25% and there could be more upsides in the near term.

  • Ripple is gaining pace above the $0.450 resistance against the US dollar.
  • The price is now trading above $0.45 and the 100 simple moving average (4-hours).
  • There was a break above a contracting triangle with resistance near $0.3980 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair rallied sharply towards $0.500 and there are chances of more upsides in the near term.

Ripple Price Starts Fresh Uptrend

This past week, ripple’s XRP formed a base above the $0.350 zone against the US Dollar. The price started a steady increase above the $0.3650 resistance zone but lagged pace like bitcoin and ethereum.

Finally, the bulls were able to clear a major hurdle near the $0.400 zone. Besides, there was a break above a contracting triangle with resistance near $0.3980 on the 4-hours chart of the XRP/USD pair. The pair rallied over 25% and there was a clear move above the $0.450 resistance.

XRP price traded close to the $0.500 resistance. A high was formed near $0.4926 and the price is now correcting gains. It is now trading above $0.45 and the 100 simple moving average (4-hours).

There was a move below the 23.6% Fib retracement level of the upward move from the $0.3720 swing low to $0.4926 high. However, the bulls are active above the $0.450 level. On the upside, an initial resistance is near the $0.4700 zone.

XRP Price Prediction

Source: XRPUSD on TradingView.com

The first major resistance is near the $0.4950 level. The next key resistance is near the $0.500 level. A successful break above the $0.500 resistance might send the price towards the $0.525 resistance. Any more gains might send the price towards the $0.540 level.

Dips Supported in XRP?

If ripple fails to clear the $0.495 resistance zone, it could continue to move down. An initial support on the downside is near the $0.450 level.

The next major support is near $0.432. If there is a downside break and close below the $0.432 level, xrp price could extend losses. In the stated case, the price could even test the $0.400 support zone.

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 – $0.450, $0.432 and $0.40.

Major Resistance Levels – $0.47, $0.495 and $0.500.

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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