- XRP price has started a new increase above the $0.480 resistance.
- The price is currently trading above $0.50 and the 100 simple moving average (4-hours).
- On the 4-hour chart of XRP/USD, there is a significant bullish trend line forming with support near $0.4910.
Ripple (XRP) price has managed to break above the $0.50 resistance. XRP price could continue to rise towards the $0.525 and $0.550 resistance levels.
XRP Price Increased by 11% in 5 Days!
In the past few days, Ripple’s XRP has experienced a significant increase from its $0.420 support against the US Dollar. It has entered the bullish zone, leaving Bitcoin and Ethereum behind.
It has clearly surpassed the $0.475 and $0.480 resistance levels. It even surpassed $0.500. A peak was formed around $0.5047 and the price is currently consolidating gains. XRP is trading above the 23.6% Fib retracement level of the upward move from the $0.4433 swing low to $0.506 high.
XRP price is also trading above $0.50 and the 100 simple moving average (4-hours). Additionally, there is a significant bullish trend line forming with support near $0.4910 on the 4-hour chart of XRP/USD.
XRP/USD 4 Hour Price Chart
The first resistance is near the $0.5050 area. The first major resistance level is located near $0.525. A successful break above the $0.525 resistance level could send the price towards the $0.550 resistance. Further gains could require a test of the $0.585 resistance.
Downside Scenario and Technical Indicators for XRP
If Ripple fails to surpass the $0.505 resistance area, it could start a downside correction. The first support on the downside is near the $0.491 area and the trend line.
The next major support is near the $0.474 area, which is the 50% Fib retracement level of the upward move from the $0.4433 low to $0.5047 high. If there is a downside break and a close below the $0.474 level, the price of XRP could extend its losses. In this case, the price could test the $0.450 support area.
Technical Indicators
- 4-hour MACD – The MACD for XRP/USD is gaining pace in the bullish zone.
- 4-hour RSI (Relative Strength Index) – The RSI for XRP/USD is currently in the overbought zone.
- Major Support Levels – $0.491, $0.474, and $0.450.
- Major Resistance Levels – $0.505, $0.525, and $0.550.
