Ripple (1) was being bid strongly against the U.S. Dollar above the $0.35 support price. The price of XRP appears to be aiming for another surge up to $0.45. The XRP currency of Ripple formed a base above the $0.320 region following a sharp decline.
Ripple Price Sees a New Rise
Starting from the $0.32 support area, Ripple was expected to be launched ahead of $0.350, where the price is currently trading. On the 4-hour chart of the XRP/USD pair, a significant negative trend line with resistance close to $0.374 was broken (2). A significant climb may begin if the pair moves past the $0.400 resistance area.
Above the resistance levels of $0.335 and $0.340, the price rose. The price rose over the 23.6% Fib retracement level of the decline from the $0.5099 swing high to the $0.3200 swing low thanks to the bulls. On the 4-hour chart of the XRP/USD pair, there was also a break over a significant negative trend line with resistance above $0.374.
XRP is beating both bitcoin and ethereum and is slowly going above the 100 SMA. The price is currently up against resistance at $0.395 and $0.400. The $0.415 level serves as the first significant obstacle. The $0.415 level is very close to the 50% Fib retracement level of the decline from the $0.5099 swing high to the $0.3200 swing low. The price might move toward the $0.450 barrier with a good break over the $0.415 resistance. The next significant obstacle comes near the $0.465 level; the price may soon approach $0.50 if there are more gains.
Supported Dips in XRP?
Ripple may gradually decline if the $0.415 barrier area is not overcome. The 100 simple moving average and the $0.380 level provide early support on the downside. Near $0.345 is the next significant support. The price of xrp may continue to decline if there is a bearish break and closing below the $0.345 mark. The price may go below the $0.320 support level in the hypothetical scenario.
Technical Significance to be noted
4-Hours MACD – The XRP/USD MACD is now losing momentum in the positive area.
Relative Strength Index (RSI) over the past four hours has risen beyond the 50 mark. (3)
Three significant support levels are $0.380, $0.345, and $0.320.
Three significant resistance levels exist $0.400, $0.415, and $0.450.
