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.
Key Highlights
- Ripple price was able to move above the $0.8400 resistance against the US dollar.
- There was a break above a significant bearish trend line with resistance at $0.8450 on the hourly chart of the XRP/USD pair (data source from SimpleFx).
- The pair is now placed nicely above the $0.8600 support and the 100 hourly simple moving average.
Ripple price is gaining pace against the US Dollar and Bitcoin. XRP/USD seems to be back in the bullish zone with resistances on the upside at $0.8900 and $0.9000.
Ripple Price Support
There was a support base formed in Ripple price above the $0.8200 level against the US Dollar. The price started an upside move and succeeded in breaking the $0.8400 resistance. There was also a break above the 50% Fib retracement level of the last decline from the $0.9320 swing high to $0.8195 low. More importantly, there was a break above a significant bearish trend line with resistance at $0.8450 on the hourly chart of the XRP/USD pair.
The pair climbed higher and it was able to settle above the $0.8600 support and the 100 hourly simple moving average. The upside move was stalled near the 61.8% Fib retracement level of the last decline from the $0.9320 swing high to $0.8195 low. At the moment, the price is currently consolidating in a range above the $0.8600 support. The broken resistance at $0.8600 and the 100 hourly SMA are acting as a supports and are preventing declines.
As long as the price is above $0.8600 and the 100 hourly SMA, there could an upside move in XRP/USD. A break above the $0.8900 and $0.9000 resistance levels could clear the path for more gains.
Looking at the technical indicators:
Hourly MACD – The MACD for XRP/USD is now back in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well above the 50 level.
Major Support Level – $0.8600
Major Resistance Level – $0.9000
Charts courtesy – SimpleFX