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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ripple Price Technical Analysis–Can XRP/USD Gain Upside Momentum?

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Ripple Price XRP BTC ETH

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Key Highlights

  • Ripple price is finding strong buying interest near the $0.9100 level against the US dollar.
  • Buyers are making an attempt to push the price above a bearish trend line at $0.9550 on the hourly chart of the XRP/USD pair (data source from SimpleFx).
  • The pair could accelerate higher once there is a close above the $0.9800 resistance in the near term.

Ripple price is following a bullish path against the US Dollar and Bitcoin. XRP/USD should move above the $0.9800 resistance to gain upside momentum.

Ripple Price Rise

There was a positive development in Ripple price from the $0.9000 swing low against the US Dollar. The price tested the $0.9100 and $0.9000 support levels on a couple of occasions. However, sellers failed to push the price below $0.9000, which prompted an upside move. It seems like there is a major support base forming above $0.9000, which could increase bullish pressure in the near term.

Earlier, there was a dip below the 50% Fib retracement level of the last wave from the $0.8398 low to $1.0268 high. However, the downside move was limited by $0.9100. Moreover, the 61.8% Fib retracement level of the last wave from the $0.8398 low to $1.0268 high also acted as a support. An upside move in underway, and the XRP/USD pair is making an attempt to push the price above a bearish trend line at $0.9550 on the hourly chart. Should there be a close above $0.9600 and $0.9800, the price could move above $1.0000.

Ripple Price Technical Analysis XRP USD

Above $1.0000, it has to break the $1.0265 high to rise further. The overall bias is positive as long as the price is above the $0.9100 and $0.9000 support levels.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is mostly flat with a few bearish signs.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD has just moved below the 50 level.

Major Support Level – $0.9200

Major Resistance Level – $1.0250

 

Charts courtesy – SimpleFX

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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.

Read more

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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Comments 2

  1. Jack Bains says:
    7 years ago

    Obviously there was a time difference between when this post was submitted and when it is live. Ripple is already at 1.06. So you need to modify your post my friend.

    Reply
    • Singha says:
      7 years ago

      No need. Very soon this post will be true n still usable my friend. That time just change the posted date.

      Reply

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Comments 2

  1. Jack Bains says:
    7 years ago

    Obviously there was a time difference between when this post was submitted and when it is live. Ripple is already at 1.06. So you need to modify your post my friend.

    Reply
    • Singha says:
      7 years ago

      No need. Very soon this post will be true n still usable my friend. That time just change the posted date.

      Reply

Leave a Reply Cancel reply

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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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