Ripple Price Analysis: XRP/USD Sets Eyes on $0.4500

Key Highlights

  • Ripple price is forming a solid support base near the $ 0.4270 level against the US dollar.
  • There was a short-term break above a bearish trend line at $ 0.4320 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could move above $ 0.4370 to gain traction towards the $ 0.4500 level in the near term.

Ripple price is showing positive signs against the US Dollar and Bitcoin. XRP/USD has to move past $ 0.4370 to test the next hurdle near the $ 0.4500 level.

Ripple Price Resistances

There were many rejections noted near the $ 0.4270 level in Ripple price against the US Dollar. The XRP/USD pair formed a solid support base around $ 0.4270 and moved higher. The price traded above the 23.6% Fib retracement level of the last slide from the $ 0.4446 high to $ 0.4266 low. These are positive signs, but the price is facing a key resistance near $ 0.4370.

During the recent upside, there was a short-term break above a bearish trend line at $ 0.4320 on the hourly chart of the XRP/USD pair. However, the price faced a strong selling interest near $ 0.4365-70 and the 100 hourly simple moving average. Moreover, the 50% Fib retracement level of the last slide from the $ 0.4446 high to $ 0.4266 low also acted as a resistance. Therefore, there could be a minor downside push towards the $ 0.4300-20 zone in the near term. On the upside, a break above $ 0.4370 could open the doors for more gains towards the $ 0.4500 level.

Ripple Price Analysis XRP

Looking at the chart, the price remains well supported above the $ 0.4270 level. Should there be a break below this, the price may perhaps move towards the $ 0.4100 level. The overall bias is positive as long as the price is above $ 0.4270.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is placed in the bullish zone.

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

Major Support Level – $ 0.4270

Major Resistance Level – $ 0.4370

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Analysis – NewsBTC

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