Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Ripple’s token price is rising above the $0.50 resistance against the US Dollar. XRP price might continue to rise toward the $0.525 and $0.550 resistance levels.
- Ripple’s token price started a fresh increase above the $0.480 resistance against the US dollar.
- The price is now trading above $0.50 and the 100 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $0.4910 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
- The pair might continue to rise toward the $0.525 and $0.550 resistance levels.
Ripple’s Token Price Rallies 5%
In the past few days, Ripple’s XRP saw a decent increase from the $0.420 support against the US Dollar. It outperformed Bitcoin and Ethereum to move into a bullish zone.
There was a clear move above the $0.475 and $0.480 resistance levels. It even surpassed $0.500. A high is formed near $0.5047 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $0.4433 swing low to the $0.5047 high.
XRP price is also trading above $0.50 and the 100 simple moving average (4 hours). Besides, there is a key bullish trend line forming with support near $0.4910 on the 4-hour chart of the XRP/USD pair.
Source: XRPUSD on TradingView.com
Initial resistance is near the $0.5050 zone. The first major resistance is near the $0.525 level. A successful break above the $0.525 resistance level might send the price toward the $0.550 resistance. Any more gains might call for a test of the $0.585 resistance.
Are Dips Limited in XRP?
If ripple fails to clear the $0.505 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.491 zone and the trend line.
The next major support is near $0.474 or the 50% Fib retracement level of the upward move from the $0.4433 swing low to the $0.5047 high. If there is a downside break and a close below the $0.474 level, XRP’s price could extend losses. In the stated case, the price could test the $0.450 support zone.
Technical Indicators
4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.
4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now in the overbought zone.
Major Support Levels – $0.491, $0.474, and $0.450.
Major Resistance Levels – $0.505, $0.525, and $0.550.
