Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Ripple found is facing a major resistance near $0.5000 against the US Dollar. XRP price must stay above $0.4450 to avoid another downside break in the near term.
- Ripple is facing an uphill task near the $0.4950 and $0.500 resistance levels against the US dollar.
- The price is now consolidating above $0.4500 and testing the 100 simple moving average (4-hours).
- There was a break below a triangle with support near $0.4700 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
- The pair could either rally above $0.5000 or it might dive below $0.4500 to test $0.4000.
Ripple’s XRP Price is Facing Resistance
There was a decent recovery in ripple’s XRP found above the $0.4200 and $0.4500 resistance levels. The price even settled nicely above the $0.4500 level and the 100 simple moving average (4-hours).
However, the price is struggling to clear the $0.4950 and $0.5000 resistance levels, whereas the bitcoin and ethereum climbed higher. The recent high was near $0.4950 before XRP corrected lower. There was a break below the $0.4800 support level.
Source: XRPUSD on TradingView.com
The price traded below the 23.6% Fib retracement level of upward move from the $0.3937 low to $0.4954 high. There was also a break below a triangle with support near $0.4700 on the 4-hours chart of the XRP/USD pair.
The price is now consolidating above $0.4500 and testing the 100 simple moving average (4-hours). The 50% Fib retracement level of upward move from the $0.3937 low to $0.4954 high is also near the $0.4500 support. If there is a downside break below the $0.4500 support zone, there could be a sharp decline. In the stated case, the price may possibly revisit the $0.4000 support.
Fresh Increase in XRP?
If ripple stays above the $0.4500 support, it could start a fresh increase. An initial resistance on the upside is near the $0.4950 level.
The main resistance is still near $0.5000. A clear break above $0.5000 will most likely start a strong increase. The next major resistance is near the $0.5200 level, above which it could surge towards the $0.5500 level.
Technical Indicators
4-Hours MACD – The MACD for XRP/USD is struggling to gain pace in the bullish zone.
4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $0.4500, $0.4200 and $0.4000.
Major Resistance Levels – $0.4950, $0.5000 and $0.5500.
