Will Ripple Join The Bull Trend?

Ripple is holding the $ 0.4200 support level and showing positive signs against the US Dollar.

The price is above $ 0.4500 and the 100 simple moving average (4 hours).

There was a break above a key bearish channel with resistance near $ 0.4500 on the 4-hour chart of the XRP / USD pair (data source from Kraken).

The pair could start a strong increase if it clears the $ 0.4880 and $ 0.5000 resistance levels.

Ripple’s XRP Price Shows Positive Signs

Over the past few days, there has been a slow decline in Ripple’s XRP found from the $ 0.4920 resistance. The price traded below the $ 0.4800 support level and the 100 simple moving average (4 hours).

There was also a break below the $ 0.4500 support, but the bulls were active above the $ 0.4200 level. A low was formed around $ 0.4229 and the price is now rising. It broke the $ 0.4380 and $ 0.4400 resistance levels.

There was a break above the key bearish channel with resistance near $ 0.4500 on the 4-hour chart of the XRP / USD pair. There was a sharp increase above $ 0.5000 before the pair fell back to $ 0.4480.

A low is formed and the pair is currently trading above the 23.6% Fib retracement level. It is currently above $ 0.4500 and the 100 simple moving average (4 hours). Instant resistance is near the $ 0.4880 level.

The next key resistance is near $ 0.4200. The main resistance is near the $ 0.4980 and $ 0.5000 levels. A close above $ 0.5000 could pump the price towards the $ 0.5500 level.

A New Drop In XRP?

If Ripple fails to clear the $ 0.4800 resistance or $ 0.4880, it could start a new low. Initial support on the bearish side is near the $ 0.4540 level.

The first major support is near the $ 0.4500 level and the 100 simple moving average (4-hour). If there is a downside break below the $ 0.4500 support, the bears will likely aim to test the $ 0.4200 level.

Technical Indicators

4-Hour MACD – The MACD for XRP / USD is slowly 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 – $ 0.4500, $ 0.4450 and $ 0.4200.

Major Resistance Levels – $ 0.4800, $ 0.4880 and $ 0.5000.

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