Ripple corrected gains well above $ 0.5000 against the US dollar. XRP price holds the $ 0.3400 support and will likely continue to rise to $ 0.4200 and $ 0.4400.

 

 

Ripple started a new decline after failing to clear the $ 0.5500 resistance against the US dollar.

The price still holds the $ 0.3400 support zone and the 100-day simple moving average.

There is a major bearish trend line showing resistance around $ 0.4650 on the daily chart of the XRP / USD pair.

The pair is rising towards the $ 0.4500 and $ 0.4650 resistance levels in the near term.

 

Ripple’s XRP price may rise again

After a clear break above $ 0.3200, Ripple’s XRP price started a strong increase. There was a clear break above the $ 0.4000 resistance zone and the $ 0.5000 level.

The price even climbed above $ 0.5200 and settled above the 100-day simple moving average. The bulls, however, failed to clear the $ 0.5500 resistance area. A high was formed around $ 0.5343 before starting a new decline.

On the upside, the price is facing hurdles around $ 0.4000. There is a major bearish trend line showing resistance near $ 0.4650 on the daily chart of the XRP / USD pair.

Unless there is a break below $ 0.3200, the price is likely to revisit the $ 0.4400 and $ 0.4500 resistance levels.

If Ripple fails to launch a decent increase, it could find support near $ 0.3680 and $ 0.3600. The first major support is near the $ 0.3550 level.

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The main support could be near the $ 0.3200 level. If the price does not stay above $ 0.3200, there could be a downside expansion towards the $ 0.2450 support zone.

Technical indicators

Daily MACD – The MACD for XRP / USD is slowly gaining momentum in the bullish zone.

Daily RSI (Relative Strength Index) – The RSI for XRP / USD is still above the 50 level.

Support Levels – 0.3650, 0.3550, and $ 0.3200.

Resistance Levels – $ 0.4000, $ 0.4400 and $ 0.4500.

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