- Ripple’s token price has started to rise steadily above the $0.500 resistance level.
- The price is currently trading above $0.505 and the 100 simple moving average (4-hour).
- On the 4-hour chart of the XRP/USD pair, there is a significant bullish trend line formed with support around $0.5050.
The XRP token price is trading above the $0.50 resistance level. The XRP price signals further upward movement towards $0.55 or $0.565.
XRP Price Managed to Stay Above $0.50
In the last few days, Ripple’s XRP gained bullish momentum above the $0.45 resistance level against the US dollar. It started a steady bullish trend above $0.465, leaving Bitcoin and Ethereum behind.
The $0.480 and $0.488 resistance levels were clearly surpassed. Eventually, the bulls managed to push the price above $0.500. A high level of $0.5286 was formed and the price recently saw a small downward correction.
The price moved below the 23.6% Fib retracement level of the upward wave from the swing low of $0.4432 to the high of $0.5286.
XRP price is still trading above $0.505 and the 100 simple moving average (4-hour). Additionally, on the 4-hour chart of the XRP/USD pair, there is a major bullish trend line formed with support around $0.5050.
XRP/USD 4 Hour Price Chart
The first resistance on the upside is near the $0.5250 area. The first major resistance level is around $0.532. A successful break above the $0.532 resistance level could send the price towards the $0.550 resistance. Further gains may require testing the $0.565 resistance.
Will the Rise in XRP Stop?
If Ripple fails to break the $0.525 resistance area, it may start a downward correction. The first support on the downside is around the $0.505 area and the trend line.
The next important support is around the $0.500 level. If there is a downside break and a close below the $0.50 level, the XRP price may increase its losses. In this case, the price may test the $0.486 support area or the 50% Fib retracement level of the upward wave from the $0.4432 low to the $0.5286 high.
Technical Indicators
- 4 Hour MACD – The MACD for XRP/USD is gaining bullish momentum.
- 4 Hour RSI (Relative Strength Index) – The RSI for XRP/USD is currently in overbought territory.
- Important Support Levels – $0.505, $0.500, and $0.486.
- Important Resistance Levels – $0.525, $0.532, and $0.550.
