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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Ripple (XRP) Price Primed For Further Upsides

Aayush Jindal
Aayush Jindal
5 years ago
2 mins read
Ripple Price XRP BTC ETH

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  • Ripple price is trading nicely above the $0.2180 pivot area against the US dollar.
  • The price is likely to slowly rise towards the $0.2265 and $0.2300 resistance levels.
  • There is a major bullish trend line forming with support near $0.2180 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • Ethereum is also rising, but it is struggling to clear the $150 and $152 resistance levels.

Ripple price is back in a positive zone against the US Dollar and bitcoin. XRP price must climb above $0.2265 to continue higher in the near term.

Ripple Price Analysis

Earlier this week, there was a sharp decline in ripple from the $0.2265 resistance area against the US Dollar. However, the price remained well bid above the $0.2100 support and recently started a fresh increase.

The last swing low was near $0.2115 before the price climbed above the $0.2150 resistance. Moreover, there was a break above the $0.2180 resistance and the 100 hourly simple moving average.

The recent rise was such that the price once again tested the $0.2265 resistance area. A swing high was formed near $0.2264 and the price is currently correcting lower. It broke the 23.6% Fib retracement level of the recent wave from the $0.2115 low to $0.2264 high.

On the downside, there are many supports, starting with $0.2200 and the previous bearish trend line. Additionally, the 100 hourly simple moving average is positioned near the $0.2180 level.

More importantly, there is a major bullish trend line forming with support near $0.2180 on the hourly chart of the XRP/USD pair. The trend line is close to the 50% Fib retracement level of the recent wave from the $0.2115 low to $0.2264 high.

If there is a downside break below the trend line, ripple price could test the $0.2150 support area. Any further downsides may perhaps lead the price towards the $0.2100 support area.

On the upside, an immediate resistance is near the $0.2250 level. Besides, the main resistance is near the $0.2265 level, above which the price is likely to climb towards the $0.2300 and $0.2320 resistance levels.

Ripple Price

Looking at the chart, ripple price is showing a few positive signs above the $0.2180 support level. Therefore, there are chances of another attempt to surpass the $0.2265 resistance. If the price fails again, it could dive back towards the $0.2100 support area.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is currently reducing its bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower and it could test the 50 level.

Major Support Levels – $0.2180, $0.2150 and $0.2100.

Major Resistance Levels – $0.2250, $0.2265 and $0.2300.

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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