Ripple Price Analysis: Dips Remain Supported Near 0.75

  • Ripple price gained traction and it rallied above $0.7500 against the US dollar.
  • The price is now trading well above the $0.7500 resistance and the 55 simple moving average (4-hours).
  • There is a crucial bullish trend line forming with support near $0.7500 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could continue to rise as long as it is above the $0.7000 support zone.

Ripple price is trading in a positive zone above $0.7500 against the US Dollar, similar to bitcoin. XRP price could accelerate higher if it clears the $0.8000 hurdle.

Ripple Price Analysis

Recently, there was a fresh increase in ripple price above the $0.7000 resistance against the US Dollar. The XRP/USD pair broke the key $0.7500 resistance zone to move further into a bullish zone.

The price is now trading well above the $0.7500 resistance and the 55 simple moving average (4-hours). It even broke the $0.8000 level and traded as high as $0.8418. It is now correcting lower and trading below the $0.8000 pivot level.

It broke the 23.6% Fib retracement level of the upward move from the $0.6952 swing low to $0.8418 high. It is now consolidating above the $0.7650 support.

The 50% Fib retracement level of the upward move from the $0.6952 swing low to $0.8418 high is also near the 0.7650 support zone. Moreover, there is a crucial bullish trend line forming with support near $0.7500 on the 4-hours chart of the XRP/USD pair.

The next major support is near the $0.7400 level and the 55 simple moving average (4-hours). Any more losses might call for a move towards the main $0.7000 support zone.

On the upside, an initial resistance is near the $0.8000 level. The next major resistance is near the $0.8200 level. To start a fresh rally, the price must clear the $0.8200 resistance. In the stated case, the price could rise towards the $0.8800 level.

Ripple Price

Looking at the chart, ripple price is now trading well above the $0.7500 resistance and and the 55 simple moving average (4-hours). Overall, the price could continue to rise as long as it is above the $0.7000 support zone.

Technical indicators

4 hours MACD – The MACD for XRP/USD is now losing momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is still above the 50 level.

Key Support Levels – $0.7500, $0.7400 and $0.7000.

Key Resistance Levels – $0.8000 and $0.8200.

The post Ripple Price Analysis: Dips Remain Supported Near 0.75 appeared first on Live .

Sending
User Review
0 (0 votes)