Ripple Price Analysis: XRP Signaling Upside Acceleration Above $0.4300

Ripple Price Analysis: XRP Signaling Upside Acceleration Above <img width=.4300" data-lazy-srcset="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?resize=1100%2C522&ssl=1 1100w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?resize=300%2C142&ssl=1 300w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?resize=768%2C364&ssl=1 768w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?resize=1024%2C486&ssl=1 1024w" data-lazy-sizes="(max-width: 1100px) 100vw, 1100px" data-lazy-src="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?fit=1100%2C522&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.4300"1100" height="522" src="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?fit=1100%2C522&ssl=1" class="attachment-full size-full wp-post-image jetpack-lazy-image" alt="" data-lazy-srcset="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?resize=1100%2C522&ssl=1 1100w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?resize=300%2C142&ssl=1 300w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?resize=768%2C364&ssl=1 768w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?resize=1024%2C486&ssl=1 1024w" data-lazy-sizes="(max-width: 1100px) 100vw, 1100px" data-lazy-src="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?fit=1100%2C522&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.4300" data-lazy-srcset="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?resize=1100%2C522&ssl=1 1100w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?resize=300%2C142&ssl=1 300w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?resize=768%2C364&ssl=1 768w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?resize=1024%2C486&ssl=1 1024w" data-lazy-sizes="(max-width: 1100px) 100vw, 1100px" data-lazy-src="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Ripple-3-1100x522.png?fit=1100%2C522&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />


  • Ripple price started a fresh increase above the key $0.3880 resistance against the US dollar.
  • The price broke the $0.4000 resistance area to move into a positive zone.
  • There was a break above a major bearish trend line with resistance near $0.3880 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The price is currently gaining momentum and it is likely to climb above $0.4200 and $0.4400.

Ripple price is gaining momentum above $0.4100 against the US Dollar. XRP is likely to continue higher above $0.4200 and any dips remain supported near $0.4000.

Ripple Price Analysis

This past week, there was a downside correction in bitcoin, Ethereum, bitcoin cash, ADA and ripple against the US Dollar. The XRP/USD pair tested the $0.3600-0.3620 support area and later started a slow and steady rise. It broke the $0.3850 resistance level and the 23.6% Fib retracement level of the downward move from the $0.4281 high to $0.3622 swing low. However, the upward move was capped by the $0.3950 resistance and the 55 simple moving average (4-hours).

Recently, there was a fresh increase in buying interest, sparking bullish moves above $0.3850 and $0.3900. Moreover, there was a break above a major bearish trend line with resistance near $0.3880 on the 4-hours chart of the XRP/USD pair. The pair settled above the $0.3950 resistance and the 55 simple moving average (4-hours). Besides, the price spiked above the 76.4% Fib retracement level of the downward move from the $0.4281 high to $0.3622 swing low. If there is a clear break above the $0.4260 and $0.4300 resistance levels, there could be strong gains in the near term.

The next key resistance is near the $0.4450 level. It coincides with the 1.236 Fib extension level of the downward move from the $0.4281 high to $0.3622 swing low. Conversely, if there is a downside correction, the price may find support near the $0.4040 or $0.4020 level. The main support is near the $0.3950 level or the 55 simple moving average (4-hours). Therefore, if there is a downside correction, the price might find a strong buying interest near $0.4000.

Ripple Price Analysis: XRP Signaling Upside Acceleration Above <img class=.4300"alignnone size-large wp-image-54299 jetpack-lazy-image" src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/05/Ripple-3-1100x522.png?resize=1100%2C522&ssl=1" alt="Ripple Price Analysis XRP Chart" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/05/Ripple-3-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">.4300" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/05/Ripple-3-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">

Looking at the chart, ripple price is clearly trading with a positive bias above the $0.4000 pivot level. On the upside, a break above the $0.4250 and $0.4260 levels is must for upside continuation. If the bulls remain in action, there could be a push towards the $0.4450 level in the coming sessions.

Technical indicators

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

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD jumped above the 50 level, with a bullish angle.

Key Support Levels – $0.4020, $0.4000 and $0.3950.

Key Resistance Levels – $0.4260 and $0.4450.

The post Ripple Price Analysis: XRP Signaling Upside Acceleration Above $0.4300 appeared first on Live Bitcoin News.



Source link