Ripple Price Analysis: Major Breakout Resistance at $0.43
- Ripple price has climbed above $0.400 against the US dollar.
- The price is currently trading above $0.400 and the 55 simple moving average (4 hours).
- The 4-hour chart of the XRP/USD pair has formed a major bullish trendline with support near $0.4120 (data source from Bittrex).
- A clearing of the $0.4300 resistance zone in the near term could give the pair some bullish momentum.
Ripple price is steadily rising above $0.400 against the US dollar. BitcoinXRP price needs to clear $0.430 to continue its rise in the upcoming session.
ripple price analysis
After forming a base near $0.3950, Ripple price has started a new rally against the US dollar. The XRP/USD pair managed to clear the $0.4000 resistance zone.
The price breaks through the $0.4080 resistance, 55 Simple Moving Average (4 hours)The pair is currently trading above the $0.400 resistance. It also shows positive signs above $0.4120 and the 55 Simple Moving Average (4-hour timeframe).
On the upside, the price is facing resistance near $0.4150. This is close to the 50% Fib retracement level of the recent drop from the high of $0.4329 to the low of $0.3977.
The next major resistance is near $0.4200. Approaching the 50% Fib retracement level of 61.8% of the recent decline from swing high of $0.4329 to low of $0.3977. A sharp breakout of the $0.4200 resistance zone could start a significant rally. In this case, the price can even break out of the $0.4320 resistance.
Further gains could push the price towards the $0.4880 resistance. The first support on the downside is near $0.4120.
The 4-hour chart of the XRP/USD pair has also formed a major bullish trendline supporting near $0.4120. The next major support is near $0.4000. Further losses could lead the price to the $0.3880 level, below which the price could even test $0.3700.
Look at the chart, the Ripple price is currently trading above the $0.400 zone and the 55 simple moving average (4 hours). Overall, the price could pick up some bullish momentum once it clears the $0.430 resistance zone in the short term.
4-Hour MACD – XRP/USD’s MACD is currently losing momentum in the bullish zone.
4-Hour RSI (Relative Strength Index) – The RSI for XRP/USD is above the 50 level.
Main support levels – $0.4120, $0.4000, $0.3880.
Key resistance levels – $0.4200 and $0.432.
https://www.livebitcoinnews.com/ripple-price-analysis-key-breakout-resistance-at-0-43/ Ripple Price Analysis: Major Breakout Resistance at $0.43