{"id":158483,"date":"2022-05-30T07:03:13","date_gmt":"2022-05-30T07:03:13","guid":{"rendered":"https:\/\/precoinnews.com\/?p=158483"},"modified":"2022-05-30T07:03:13","modified_gmt":"2022-05-30T07:03:13","slug":"ripple-price-analysis-bulls-aim-recovery-above-0-42","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ripple-price-analysis-bulls-aim-recovery-above-0-42\/","title":{"rendered":"Ripple Price Analysis: Bulls Aim Recovery Above $0.42"},"content":{"rendered":"
Ripple price is struggling below $0.4500 against the US Dollar, similar to bitcoin. XRP price must clear $0.4200 to start a fresh recovery wave in the near term.<\/em><\/p>\n After struggling to clear $0.4500, ripple price started a fresh decline against the US Dollar. The XRP\/USD pair traded below the $0.4200 support level to enter a bearish zone.<\/p>\n The price even broke the $0.4000 support and the 55 simple moving average (4-hours). It even spiked below the $0.3800 level and traded as low as $0.3661. Recently, there was an upside correction above the $0.3800 resistance level.<\/p>\n There was a break above the 23.6% Fib retracement level of the key decline from the $0.4369 swing high to $0.3661 low. It is now trading below $0.42 and the 55 simple moving average (4-hours).<\/p>\n On the upside, the price is facing resistance near $0.4200 and the 55 simple moving average (4-hours). There is also a key bearish trend line forming with resistance near $0.4100 on the 4-hours chart of the XRP\/USD pair.<\/p>\n The next major resistance sits near the $0.4500 zone. An intermediate resistance might be the 50% Fib retracement level of the key decline from the $0.4369 swing high to $0.3661 low. A clear move above the $0.4200 and $0.4500 resistance zones might start a decent recovery.<\/p>\n In the stated case, the price could rise towards the $0.5500 level. An initial support on the downside is near the $0.3800 level. The next main support is near the $0.3600 zone. Any more losses could lead the price towards the $0.3500 level, below which the price might even test $0.3250.<\/p>\n <\/p>\n Ripple Price<\/p>\n Looking at the chart, ripple price is now trading below $0.4200 and the 55 simple moving average (4-hours). Overall, the price could start a decent recovery wave if it clears $0.4200 and $0.4500.<\/p>\n 4 hours MACD \u2013 The MACD for XRP\/USD is now gaining momentum in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is above the 50 level.<\/p>\n Key Support Levels \u2013 $0.3800, $0.3500 and $0.3200.<\/p>\n Key Resistance Levels \u2013 $0.4200 and $0.4500.<\/p>\nRipple Price Analysis<\/h2>\n
Technical indicators<\/h2>\n