The wave continues to rise above the $0.380 resistance zone against the US dollar. XRP price may rise further if it clears the $0.4320 resistance zone.
- The wave is currently rising above the $0.38 resistance zone against the USD.
- The price is now trading above $0.380 and the 100 simple moving average (4 hours).
- There is a key bullish trend with support near $0.3960 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
- If there is a clear move above the $0.4320 resistance zone, the pair may move higher.
The value of the wave begins to rise steadily.
After forming a base above $0.32, Ripple’s XRP began a steady rally against the US dollar. The price climbed above the $0.35 resistance zone to move into a positive zone.
Bulls pushed the price above the $0.365 level and the 100 simple moving average (4 hours). The increase was such that the price of XRP rose above the $0.40 level. It traded at a new yearly high at $0.4324 and is currently consolidating similar gains. Bitcoin.
The price is now trading above $0.380 and the 100 simple moving average (4 hours). There is also a key bullish trend with support near $0.3960 on the 4-hour chart of the XRP/USD pair. The pair is stable above the 23.6% Fib retracement level of the upward move from the $0.3655 swing low to the $0.4324 high.
Source: XRPUSD on TradingView.com
An immediate resistance is near the $0.432 zone. The next key resistance is near the $0.45 level. A successful break above the $0.450 resistance could send the price towards the $0.480 resistance. Any further gains could send the price towards the $0.50 level in the coming sessions.
Limited Dips in XRP?
If the wave fails to clear the $0.432 resistance zone, it could initiate a downside correction. Initial support on the downside is near the $0.416 level.
The next major support is near $0.400 and the trend line. This is near the 50% Fib retracement level of the upside from the $0.3655 swing low to the $0.4324 high. If there is a downside break and close below the $0.40 level, xrp price may extend the loss. In the described scenario, the price may fall below the $0.365 support.
Technical indicators
4-hours MACD – The MACD for XRP/USD is now bullish in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Key support levels – $0.416, $0.400 and $0.392.
Key resistance levels – $0.432, $0.450 and $0.480.
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