{"id":111798,"date":"2021-02-08T09:12:29","date_gmt":"2021-02-08T09:12:29","guid":{"rendered":"https:\/\/precoinnews.com\/?p=111798"},"modified":"2021-02-08T09:12:29","modified_gmt":"2021-02-08T09:12:29","slug":"ripple-price-analysis-fresh-increase-likely-above-0-44","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/ripple-price-analysis-fresh-increase-likely-above-0-44\/","title":{"rendered":"Ripple Price Analysis: Fresh Increase Likely Above $0.44"},"content":{"rendered":"
Ripple price is trading in a positive zone above $0.3500 against the US Dollar. XRP price is likely eyeing a fresh rally if it clears the $0.4400 resistance zone.<\/em><\/p>\n After a strong rally, ripple price started a downside correction below the $0.5000 level against the US Dollar. The XRP\/USD pair even traded below the $0.4500 support level and the 55 simple moving average (4-hours).<\/p>\n However, the price remained well bid near the $0.3500 level. A low was formed near $0.3442 before the price started an upside correction. There was a break above the $0.4000 resistance level. The price is now struggling near the 23.6% Fib retracement level of the downward move from the $0.7525 high to $0.3442 low.<\/p>\n It is now trading near the $0.4300 zone and the 55 simple moving average (4-hours). There is also a key declining channel forming with resistance near $0.4300 on the 4-hours chart of the XRP\/USD pair.<\/p>\n If there is an upside break above the channel resistance, the pair could rise towards $0.4500 and $0.4600. The next major resistance is near the $0.5000 level. Any more gains could lead the price towards $0.5500. It is close to the 50% Fib retracement level of the downward move from the $0.7525 high to $0.3442 low.<\/p>\n Conversely, the price could correct lower below $0.4200. An initial support is near the $0.4000 level or the channel lower trend line. The next major support is near the $0.3800 level, below which the price could test the key $0.3500 support zone.<\/p>\n <\/p>\n Ripple Price<\/p>\n Looking at the chart, ripple price is clearly trading well above the $0.3500 pivot level and the 55 simple moving average (4-hours). Overall, the price could accelerate higher once it clears the $0.4300 and $0.4400 resistance levels.<\/p>\n 4 hours MACD \u2013 The MACD for XRP\/USD is slowly gaining momentum in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now close to the 50 level.<\/p>\n Key Support Levels \u2013 $0.4000, $0.3800 and $0.3500.<\/p>\n Key Resistance Levels \u2013 $0.4400 and $0.5000.<\/p>\nRipple Price Analysis<\/h2>\n
Technical indicators<\/h2>\n