XRP Price Prediction: Ripple Bulls Are Not Done Yet And Still Aim $0.5

Aayush Jindal

Last Updated: June 11, 2024 8:01 am

2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

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 is gaining pace above the $0.420 and $0.440 resistance levels against the US Dollar. XRP price is up over 5% and there could be more upsides in the near term.

Ripple is gaining pace above the $0.465 resistance against the US dollar.
The price is now trading above $0.465 and the 100 simple moving average (4-hours).
There is a key rising channel forming with support near $0.4720 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
The pair might continue to rise towards $0.500 or even $0.520 in the near term.

Ripple Price Outperforms Bitcoin and Ethereum

This past week, ripple’s XRP corrected gains and tested the $0.420 support against the US Dollar. The price remained well bid above the $0.420 zone and recently started a fresh increase.

There was a clear move above the $0.435 and $0.440 resistance levels. The price is up over 25% in the past few days, outperforming bitcoin and ethereum. There was a break above the 50% Fib retracement level of the downward move from the $0.4926 swing high to $0.4096 low.

XRP price is now trading above $0.465 and the 100 simple moving average (4-hours). There is also a key rising channel forming with support near $0.4720 on the 4-hours chart of the XRP/USD pair.

It is attempting a close above the 76.4% Fib retracement level of the downward move from the $0.4926 swing high to $0.4096 low. On the upside, an initial resistance is near the $0.4920 zone.

Source: XRPUSD on TradingView.com

The first major resistance is near the $0.500 level. The next key resistance is near the $0.520 level. A successful break above the $0.520 resistance might send the price towards the $0.550 resistance. Any more gains might send the price towards the $0.580 level.

Dips Supported in XRP?

If ripple fails to clear the $0.492 resistance zone, it could start a downside correction. An initial support on the downside is near the $0.4720 level and the channel trend line.

The next major support is near $0.460. If there is a downside break and close below the $0.460 level, XRP price could extend losses. In the stated case, the price could even test the $0.420 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 above the 50 level.

Major Support Levels – $0.472, $0.460 and $0.420.

Major Resistance Levels – $0.492, $0.500 and $0.520.

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.

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.

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.