Ripple Price Analysis: Chances of More Upsides Above $0.75 | Live Bitcoin News

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  • Ripple price gained traction and it rallied above $0.7000 against the US dollar.
  • The price is now trading well above the $0.6500 resistance and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $0.7000 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could continue to rise if it clears the $0.7500 and $0.7650 resistance levels.

Ripple price is trading in a positive zone above $0.7000 against the US Dollar, similar to bitcoin. XRP price could accelerate higher if it clears the $0.7500 barrier.

Ripple Price Analysis

Recently, there was a fresh increase in ripple price above the $0.6200 resistance against the US Dollar. The XRP/USD pair broke the key $0.6500 resistance zone to move further into a bullish zone.

The price is now trading well above the $0.7000 resistance and the 55 simple moving average (4-hours). It even broke the $0.7500 level and traded as high as $0.7788. It is now correcting lower and trading below the $0.7500 pivot level.

It broke the 23.6% Fib retracement level of the upward move from the $0.6145 swing low to $0.7788 high. It is now consolidating above the $0.7000 support.

There is also a major bullish trend line forming with support near $0.7000 on the 4-hours chart of the XRP/USD pair. The next major support is near the $0.6920 level and the 55 simple moving average (4-hours). It is close to the 50% Fib retracement level of the upward move from the $0.6145 swing low to $0.7788 high.

Any more losses might call for a move towards the main $0.6500 support zone. On the upside, an initial resistance is near the $0.7400 level. The next major resistance is near the $0.7500 level. To start a fresh rally, the price must clear the $0.7500 resistance. In the stated case, the price could rise towards the $0.8000 level.

Ripple Price

Ripple Price

Looking at the chart, ripple price is now trading well above the $0.6500 resistance and and the 55 simple moving average (4-hours). Overall, the price could continue to rise if it clears the $0.7500 and $0.7650 resistance levels.

Technical indicators

4 hours MACD – The MACD for XRP/USD is now losing momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now just above the 50 level.

Key Support Levels – $0.7000, $0.6900 and $0.6500.

Key Resistance Levels – $0.7500 and $0.8000.

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