.Can Ripple Surpass Lock Resistance? – Ripple came back from the $ 0.6000 resistance against the US dollar. XRP price is currently trading above $ 0.4500 and could try a new increase above $ 0.5500.
Ripple broke the $ 0.5500 support zone. However, it declined against the US dollar and remained above $ 0.4500.
The price has now climbed above $ 0.5000 and the 100 simple moving average (4 hours).
Previously, there was a break below a major bullish trend line with support near $ 0.5380 on the 4-hour chart of the XRP / USD pair.
The pair could rise once again unless it closes below the $ 0.5000 support.
Ripple’s XRP Is Regulating Price Support
Ripple’s XRP has outperformed Bitcoin and Ethereum this week with a strong move above $ 0.5000. The price even rallied above the $ 0.5500 resistance level and the 100 simple moving average.
However, the bears were active near the $ 0.6000 zone. A high was formed around $ 0.5998 and the price started a new decline recently. There was a break below the $ 0.5800 and $ 0.5500 support levels. It even fell below the $ 0.5000 support level.
There was also a break below a major bullish trend line with support near $ 0.5380 on the 4-hour chart of the XRP / USD pair. A low was formed around $ 0.4544 and the price is currently up. The pair is currently trading above the $ 0.5000 and the 100 simple moving average (4 hours).
The first major resistance is near the $ 0.5200 level. The main resistance is near the $ 0.5445 level. A clear break above $ 0.5450 and $ 0.5500 could open the doors for a fresh increase to $ 0.6000.
A New Drop In XRP?
If Ripple fails to clear the $ 0.5445 resistance or $ 0.5200, it could initiate a new low. The first downside support is near the $ 0.5100 level.
The first major support is near the $ 0.5000 level and the 100 simple moving average (4-hour). Further losses could push the price into the $ 0.4500 support zone in the near term.
Technical Indicators
4-Hour MACD – The MACD for XRP / USD is now gaining momentum in the bullish zone.
4-Hour RSI (Relative Strength Index) – The RSI for XRP / USD is currently above the 50 level.
Major Support Levels – $ 0.5200, $ 0.5100 and $ 0.5000.
Major Resistance Levels – $ 0.5450, $ 0.5500 and $ 0.6000.
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