Ripple (XRP) Price Smashes Resistance: Stage Set For $ 0.5000?

  • The Ripple Prize started a solid upward movement and broke the key $ 0.4200 resistance to US dollars.
  • The price climbed higher and broke some important opponents near $ 0.4350 and $ 0.4400.
  • It is a rising channel formed with support of $ 0.4240 on the XRP / USD pair hour chart (Kraken data source).
  • The pair monitors further gains and it can soon clear $ 0.4500 and $ 0.4650 resistance levels.

The Ripple Prize is gaining momentum against the US Dollar while recovering vs Bitcoin. The XRP seems to accelerate and it can continue to paint higher than $ 0.4500.

Ripple Price Analysis

Yesterday, there was a decent upward movement in the ripple price over $ 0.4000 opposition to the US dollar. The XRP / USD match even exceeded $ 0.4,000 and the 1[ads1]00-hour simple moving average. However, the $ 0.4200 area acted as resistance and prevented further. Later, there was a downside correction, but the price was above the $ 0.4000 level. As a result, there was a fresh increase and the price managed to climb over $ 0.4200 and $ 0.4250 resistance levels.

It opened the doors for more wins, and the price was above $ 0.4350 and $ 0.4400 levels. A new weekly high was formed near $ 0.4460 and a swing high was formed at $ 0.4409. The price is currently consolidated and recently declined below the 23.6% Fib retracement level of the recent wave from $ 0.4083 low to $ 0.4409 swing high. On the downside, there are many support locations near the $ 0.4250 level. Furthermore, there is a rising channel that supports $ 0.4240 on the XRP / USD pair hour chart.

50% Fib Claw level of the recent wave from $ 0.4083 low to $ 0.4409 swing high is also near the channel support area. At the moment, the price goes higher, and it seems to have an upward pause over the channel resistance. When bulls gain strength over $ 0.4500, it may be another rally. An immediate resistance is close to the $ 0.4650 level above which the price can test $ 0.4880.

 Ripple Price Analysis XRP Chart

When you look at the chart, the ripple price gets clear traction over $ 0.4080 and $ 0.4250. Therefore, there is potential for an upward extension over the $ 0.4650 level. If the bulls keep going, the price can even target the $ 0.5000 level in the upcoming sessions. At the back, the headline is $ 0.4250, during which there may be an extended correction against the $ 0.4080 level.

Technical Indicators

Monthly MACD – MACD for XRP / USD is nicely positioned in the bullish zone. [19659008] The RSI for XRP / USD is now over 60 levels, with positive signs.

Greater support levels – $ 0.4250, $ 0.4150 and $ 0.4080.

Large Resistance Levels – $ 0.4450, $ 0.4500 and $ 0.4650.

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