Ripple remained stable above $ 0.50. XRP rose above $ 0.6000 against the dollar. XRP price tested $ 0.6500. It is likely that the price will continue to rise in the near term.

 

 

Will Ripple start a new surge?

Ripple started a new rise above the $ 0.5500 and $ 0.6000 resistance levels against the dollar.

The price is currently trading well above $ 0.5800 and the 100 simple moving average.

There was a break above a crucial contract triangle with resistance near $ 0.5480 on the 4-hour chart of the XRP / USD pair.

The pair is trading well above $ 0.6000. The price is likely to continue rising towards $ 0.6500 and $ 0.6800.

If Ripple fails to move its price above $ 0.6500, it may correct towards lower levels. Initial support on the downside is near the $ 0.5840 and $ 0.5800 levels.

The main support is currently located next to the broken triangle and around $ 0.5500. A downside break below the $ 0.5500 support zone could steer the price towards the $ 0.5200 zone.

 

Technical indicators

4-Hour MACD: The MACD for XRP / USD is gaining momentum in the bullish zone.

4-Hour RSI (Relative Strength Index): The RSI for XRP / USD is currently well above the 50 level.

Major Support Levels – $ 0.5850, $ 0.5650 and $ 0.5500.

Resistance Levels – $ 0.6200, $ 0.6500 and $ 0.7000.

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