BTC
USD 10,019.93
ETH
USD 210.50
XRP
USD 0.28
LTC
USD 72.14
BCH
USD 306.95
EOS
USD 3.90
XLM
USD 0.07
XMR
USD 73.83
Free Download WordPress Themes
Free Download WordPress Themes
Download Nulled WordPress Themes
Download Nulled WordPress Themes
udemy paid course free download
download redmi firmware
Download Nulled WordPress Themes
free online course

Ripple Price Analysis: XRP Likely To Grind Higher Towards $0.48

  • Ripple price corrected lower after a strong rally above $0.4500 and $0.4650 against the US dollar.
  • The price tested the $0.3560 support area and it is currently moving higher with a positive tone.
  • There is a crucial bullish trend line forming with support near $0.3855 on the 4-hours chart of the XRP/USD pair (data source from Bitstamp).
  • The price is currently struggling near $0.4200, but it is likely to gain bullish momentum in the near term.

Ripple price rallied significantly towards $0.4800 against the US Dollar, and later corrected lower. XRP is currently holding the $0.3800 support and it is likely to climb higher.

Ripple Price Analysis

This past week, there was a significant rally in bitcoin, Ethereum, bitcoin cash, ADA and ripple against the US Dollar. The XRP/USD pair surged above the $0.3340, $0.3600 and $0.4000 resistance levels. There was a close above the $0.4200 level and the 55 simple moving average (4-hours). The upward move was such that the price even broke the $0.4500 and $0.4650 resistance levels. The price traded to a new 2019 high at $0.4800 and later started a major downside correction.

It traded below the $0.4500 and $0.4200 support levels to move into a short term bearish zone. However, the $0.3600 and $0.3640 support levels act as strong buy zones. A base was formed above $0.3600 and recently the price climbed above the $.3800 level. There was a break above the 23.6% Fib retracement level of the last decline from the $0.4800 high to $0.3564 swing low. The recent bounce was strong, taking the price above the $0.4150 level. The price even spiked above the 50% Fib retracement level of the last decline from the $0.4800 high to $0.3564 swing low.

However, the price seems to be struggling to settle above $0.4180 and $0.4200. On the downside, there is a crucial bullish trend line forming with support near $0.3855 on the 4-hours chart of the XRP/USD pair. As long as the price is above the trend line, it is likely to climb above the $0.4200 and $0.4500 resistance levels.

Looking at the chart, ripple price is showing positive signs above the $0.3850 and $0.3640 support levels. If there is a downside break below the $0.3640 support and $0.3600, the price is likely to move into a bearish zone. The next key support is at $0s.3340, where the bulls could protect additional losses.

Technical indicators

4 hours MACD – The MACD for XRP/USD is currently moving slowly into the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently moving lower towards the 50 level.

Key Support Levels – $0.3850, $0.3640 and $0.3600.

Key Resistance Levels – $0.4180 and $0.4500.

The post Ripple Price Analysis: XRP Likely To Grind Higher Towards $0.48 appeared first on Live Bitcoin News.

References

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More