Ripple has just begun a new rise above the $ 0.4000 resistance against the US dollar. If it clears the $ 0.4650 resistance, the XRP price is likely to rise further.
Ripple rose over 15% and broke a massive resistance against the US dollar around $ 0.4200.
The price is trading well above the $ 0.4400 and the 100-day simple moving average.
There is a key bearish trend line showing resistance around $ 0.4650 on the daily chart of the XRP / USD pair.
If there is a clear break above the trend line and $ 0.4700, the pair could start up strongly.
XRP begins new rally
After building a support base above $ 0.3800, Ripple’s XRP price started a strong increase. There was a clear break above the $ 0.4000 and $ 0.4200 resistance levels.
The main resistance is formed near the $ 0.4650 level. On the daily chart of the XRP / USD pair there is still a key bearish trend line with resistance near $ 0.4650. A clear break above the trendline resistance could open the doors for a sharp increase towards the $ 0.5000 resistance. The next major resistance above the $ 0.5000 level could be near the $ 0.5800 level.
If Ripple fails to cross the $ 0.4620 resistance or trend line, it could correct the decline. Initial support is near the $ 0.4400 level. The first major support is located at $ 0.4200.
Major support could be near the $ 0.3500 level and the 100-day SMA. If the price does not stay above $ 0.3500, the bulls are likely to move towards the $ 0.3400 support zone, where a strong stance is likely.
Daily MACD – The MACD for XRP / USD is now gaining momentum in the bullish zone.
Daily RSI (Relative Strength Index) – The RSI for XRP / USD is well above the 50 level.
Major Support Levels – $ 0.4400, $ 0.4200 and $ 0.4000.
Major Resistance Levels – $ 0.4650, $ 0.5000 and $ 0.5800.