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 is consolidating above the $0.375 support zone against the US Dollar. XRP price could gain pace if it clears the $0.40 and $0.415 resistance levels.
- Ripple is currently consolidating above the $0.375 and $0.380 levels against the US dollar.
- The price is now trading near $0.388 and the 100 simple moving average (4-hours).
- There is a key contracting triangle forming with support near $0.382 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
- The pair could start a strong increase if it clears the $0.400 resistance zone.
Ripple Price Remains Supported
After forming a base above the $0.345 level, ripple’s XRP started a decent increase against the US Dollar. The price was able to surpass the $0.375 and $0.380 resistance levels.
The price even spiked above the $0.40 level and settled above the 100 simple moving average (4-hours). However, the bears were active near the $0.423 zone. A high was formed near $0.423 before there was a downside correction, just like bitcoin.
Xrp price declined below the $0.40 support and the 100 simple moving average (4-hours). There was a clear move below the 50% Fib retracement level of the upward move from the $0.3458 swing low to $0.423 high.
The bulls are now active near the $0.375 level. There is also a key contracting triangle forming with support near $0.382 on the 4-hours chart of the XRP/USD pair. The price is currently consolidating above the $0.375 and $0.380 levels.
Source: XRPUSD on TradingView.com
An immediate resistance is near the $0.400 zone. A successful break above the $0.400 resistance might send the price towards the $0.425 resistance. The next key resistance is near the $0.450 level. Any more gains might send the price towards the $0.50 level in the coming days.
Downside Break in XRP?
If ripple fails to clear the $0.400 resistance zone, it could start a downside correction. An initial support on the downside is near the $0.382 level and the contracting trend line.
The next major support is near $0.375. If there is a downside break and close below the $0.375 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.345 support.
Technical Indicators
4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone.
4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now near the 50 level.
Major Support Levels – $0.382, $0.375 and $0.345.
Major Resistance Levels – $0.400, $0.425 and $0.450.