Crypto NewsRipple (XRP)

XRP Price Prediction: Why the Bulls May Eye a Fresh Rally to $0.45

Ripple remained bid well above the $0.35 support against the US Dollar. XRP price seems to be eyeing a fresh rally towards the $0.45 level.

  • Ripple started a decent run up from the $0.32 support zone against the US Dollar.
  • The price is now trading above $0.350 and the 100 simple moving average (4-hours).
  • There was a break above a major bearish trend line with a 4-hour chart of the XRP/USD pair (data source by Kraken). Resistance near $0.374.
  • The pair could start a strong rise if it breaks the $0.400 resistance zone.

Ripple price eyeing fresh surge

After a sharp decline, Ripple’s XRP formed a base above the $0.320 zone against the US Dollar. The price started a decent climb above the $0.335 and $0.340 resistance levels.

The bulls pushed the price above the 23.6% Fib retracement level of the downside move from the $0.5099 high to the $0.3200 low. Also, there was a break above a major bearish trend line with resistance near $0.374 on the 4-hour chart of the XRP/USD pair.

XRP is steadily rising above the 100 simple moving average (4-hours), outperforming both Bitcoin as well as Ethereum. The price is now facing hurdles near $0.395 and $0.400. The first major resistance is near the $0.415 level.

The 50% Fib retracement level of the downside move from the $0.5099 swing high to the $0.3200 swing low is also near the $0.415 level. A successful break above the $0.415 resistance could send the price towards the $0.450 resistance.

XRP Price Prediction: Why the Bulls May Eye a Fresh Rally to $0.45, Crypto Trading News

Source: XRPUSD on TradingView.com

The next key resistance is near the $0.465 level. Any further gains could propel the price towards the $0.50 level in the coming days.

Dips supported in XRP?

If ripple fails to clear the $0.415 resistance zone, it could slowly move lower. Initial support on the downside is near $0.380 and the 100 simple moving average (4-hours).

The next major support is at $0.345. If there is a downside break and close below the $0.345 level, xrp price might extend losses. In the mentioned case, the price could even drop below the $0.320 support.

Technical indicators

4-hour MACD – XRP/USD MACD is now losing pace in the bullish zone.

4-hour RSI (Relative Strength index) – The RSI for XRP/USD is now above the 50 level.

Major support levels – $0.380, $0.345 and $0.320.

Major resistance levels – $0.400, $0.415 and $0.450.

Source: Crypto News Deutsch

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