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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ripple Price Technical Analysis – XRP/USD Broke Key Resistance

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Ripple Price Technical Analysis XRP USD

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Key Highlights

  • Ripple price was able to move above the $0.8400 resistance against the US dollar.
  • There was a break above a significant bearish trend line with resistance at $0.8450 on the hourly chart of the XRP/USD pair (data source from SimpleFx).
  • The pair is now placed nicely above the $0.8600 support and the 100 hourly simple moving average.

Ripple price is gaining pace against the US Dollar and Bitcoin. XRP/USD seems to be back in the bullish zone with resistances on the upside at $0.8900 and $0.9000.

Ripple Price Support

There was a support base formed in Ripple price above the $0.8200 level against the US Dollar. The price started an upside move and succeeded in breaking the $0.8400 resistance. There was also a break above the 50% Fib retracement level of the last decline from the $0.9320 swing high to $0.8195 low. More importantly, there was a break above a significant bearish trend line with resistance at $0.8450 on the hourly chart of the XRP/USD pair.

The pair climbed higher and it was able to settle above the $0.8600 support and the 100 hourly simple moving average. The upside move was stalled near the 61.8% Fib retracement level of the last decline from the $0.9320 swing high to $0.8195 low. At the moment, the price is currently consolidating in a range above the $0.8600 support. The broken resistance at $0.8600 and the 100 hourly SMA are acting as a supports and are preventing declines.

Ripple Price Technical Analysis XRP USD

As long as the price is above $0.8600 and the 100 hourly SMA, there could an upside move in XRP/USD. A break above the $0.8900 and $0.9000 resistance levels could clear the path for more gains.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is now back in the bullish zone.

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

Major Support Level – $0.8600

Major Resistance Level – $0.9000

 

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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