Ripple price is gaining pace above $0.900 against the US Dollar, like bitcoin. XRP price could extend gains if there is a move above the $0.950 hurdle.
Ripple Price Analysis
After forming a base above the $0.7700 level, ripple price started a fresh increase against the US Dollar. The XRP/USD pair cleared the $0.8200 resistance zone to move into a positive zone.
The pair even climbed above the $0.9000 zone and the 55 simple moving average (4-hours). The pair even climbed above the $0.9500 resistance. Finally, there was a spike above the $1.00 level. A high was formed near $1.016 before there was a downside correction.
The price corrected lower below the $0.9800 and $0.9600 levels. The price corrected lower below the 23.6% Fib retracement level of the upward move from the $0.7762 swing low to $1.016 high.
There was a break below a key bullish trend line with support near $0.9320 on the 4-hours chart of the XRP/USD pair. However, the bulls remained active near the $0.9000 zone. The 50% Fib retracement level of the upward move from the $0.7762 swing low to $1.016 high also acted as support.
Any more losses could lead the price towards the $0.8500 level in the near term. On the upside, the price is facing resistance near the $0.9320 level. The next key resistance is near the $0.9500 level. A close above the $0.9500 level could push the price towards the $1.00 level.
The next major resistance is near the $1.05 level. Any more gains could lead the price towards the $1.10 level. An intermediate resistance might be near the $1.065 level.
Looking at the chart, ripple price is now trading above $0.90 and the 55 simple moving average (4-hours). Overall, the price could continue to move up if there is a clear break above the $0.950 resistance.
4 hours MACD – The MACD for XRP/USD is now gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is above the 50 level.
Key Support Levels – $0.900, $0.850 and $0.820.
Key Resistance Levels – $0.9500 and $1.00.
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