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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

XRP Price Prediction: Ripple Near Make-or-Break Levels, $0.5 Is The Key

Aayush Jindal
Aayush Jindal
2 years ago
2 mins read
Ripple (XRP)

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Ripple started a downside correction below the $0.5350 level against the US Dollar. XRP price must stay above $0.50 and $0.482 to start a fresh increase in the near term.

  • Ripple started a downside correction from the $0.5850 resistance against the US dollar.
  • The price is now trading above $0.482 and the 100 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $0.500 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair might start a fresh increase unless there is a break below $0.482.

Ripple Price Revisits Key Support

This past week, ripple’s XRP climbed above the $0.5400 resistance against the US Dollar, outperforming Bitcoin and Ethereum. The price even spiked above $0.565 before the bears appeared.

It started a downside correction from the $0.5847 high. The price declined below the $0.565 and $0.550 levels. Finally, the bulls appeared near $0.500 and $0.482. A low is formed near $0.4822 and the price is now consolidating losses.

There was a minor increase above the 23.6% Fib retracement level of the downward move from the $0.5847 high to the $0.4822 low.

XRP price is now trading above $0.500 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.500 on the 4-hours chart of the XRP/USD pair. On the upside, an initial resistance is near the $0.5200 zone.

XRP Price Prediction

Source: XRPUSD on TradingView.com

The first major resistance is near the $0.5350 level. It is near the 50% Fib retracement level of the downward move from the $0.5847 high to the $0.4822 low. A successful break above the $0.535 resistance might send the price toward the $0.550 resistance. Any more gains might send the price toward the $0.585 level.

Are Dips Supported in XRP?

If ripple fails to clear the $0.535 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4980 level and the trend line.

The next major support is near $0.482. If there is a downside break and a close below the $0.482 level, XRP’s price could extend losses. In the stated case, the price could test the $0.420 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.500, $0.482, and $0.420.

Major Resistance Levels – $0.520, $0.535, and $0.585.

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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.

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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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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

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