Ripple Price Analysis: More Upsides Possible Above $1.4 | Live Bitcoin News

  • Ripple price started a strong increase above the $1.25 resistance against the US dollar.
  • The price is now trading above $1.30 and the 55 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $1.245 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could continue to rise once it clears the $1.365 resistance zone in the near term.

Ripple price is gaining pace above the $1.30 support against the US Dollar, similar to bitcoin. XRP price must clear $1.365 to continue higher towards $1.42.

Ripple Price Analysis

Ripple price saw a steady increase from the $1.05 support zone against the US Dollar. The XRP/USD pair broke the key $1.20 resistance and the 55 simple moving average (4-hours) to move into a positive zone.

The price even climbed above the $1.25 and $1.30 resistance levels. There was also a break above a major bearish trend line with resistance near $1.245 on the 4-hours chart of the XRP/USD pair. The pair settled above the $1.30 level.

There was a clear break above the 76.4% Fib retracement level of the downward move from the $1.303 high to $1.050 low. It is now trading near the $1.365 resistance zone.

The 1.236 Fib extension level of the downward move from the $1.303 high to $1.050 low is also near $1.365. A close above the $1.365 could set the pace for more gains. The next major resistance is near the $1.40 level. Any more gains could lead the price towards the $1.45 level.

On the downside, an initial support is near the $1.32 level. The next major support is near the $1.30 level. Any more losses could lead the price towards the $1.22 level and the 55 simple moving average (4-hours). The next major support below the $1.22 level is near the $1.20 level.

Ripple Price

Ripple Price

Looking at the chart, ripple price is now trading well above $1.30 and the 55 simple moving average (4-hours). Overall, the price could continue to rise once it clears the $1.365 resistance zone in the near term.

Technical indicators

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

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 60 level.

Key Support Levels – $1.32, $1.30 and $1.25.

Key Resistance Levels – $1.365 and $1.400.

Tags: ,

Read original at