Ripple price extended its rally above the $0.4350 level against the USD. XRP is currently consolidating gains and it seems like the recent bullish reversal might push the price towards $0.4950 or $0.5200.

  • There was an extended upward move above the $0.4200 and $0.4350 resistances.
  • XRP is now following a major bullish trend line with support near $0.4020 on the 30-minute chart.
  • Ripple price is likely to climb higher towards $0.4950 or $0.5200 in the coming sessions.

Ripple Price

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Ripple Price Analysis (XRP to USD)

Yesterday, ripple started much awaited upward move above the $0.3200 and $0.3500 resistance levels. XRP/USD gained more than 25% in the past few sessions and traded above many crucial hurdles, including $0.3800 and $0.4000.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the settled nicely above the $0.4000 resistance and the 25 simple moving average (30-minute chart). It opened the doors for more upsides and the price rallied above the $0.4200 and $0.4350 resistance levels.

It traded towards the $0.4500 level and a new multi-month high was formed at $0.4461. At the moment, the price is consolidating gains, and it recently corrected below the 23.6% Fib retracement level of the recent rally from the $0.3816 low to $0.4461 high.

An immediate support is near the $0.4190 level, below which the price could test the $0.4140 support. Besides, the 50% Fib retracement level of the recent rally from the $0.3816 low to $0.4461 high is also near the $0.4135 level.

More importantly, there is a major bullish trend line forming with support near $0.4020 on the same chart. Therefore, if there is a downside correction, the price is likely to find a strong support near $0.4140 or $0.4020.

On the upside, an initial hurdle for the bulls is near $0.4500. A successful break above $0.4500 is likely to set the momentum for a push towards the $0.4950 and $0.5000 levels. The next key resistance is near the $0.5200 level.

Overall, ripple price is clearly in a nasty uptrend, and the recent rally in bitcoin and ETH could continue to support more gains in XRP.

The market data is provided by TradingView, Bitfinex.

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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.

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