XRP Price Successfully Maintains Above $0.50: Critical Support and Resistance Levels

  • 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

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.
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Celal Mutlu
Celal Mutluhttps://coinotag.com/
Celal Mutlu is a young Satoshi reflection at the age of 21. His favorite characters are CZ and Vitalik, and he has a great sense of humor. Celal is a keen follower of developments in the world of cryptocurrency and keeps up with the latest news and trends.
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