Ripple Price Analysis: Rally to $0.50 Looks Possible!
• Ripple price started to decline from the $0.4700 zone against the US dollar, but is now trading above $0.44 and the 55 simple moving average (4 hours).
• There was a break above a key contracting triangle with resistance near $0.430 on the 4-hour chart of the XRP/USD pair.
• The bulls need to stay above the $0.440 support level for Ripple price to remain in a bullish zone and increase above the $0.4700 resistance.
Ripple Price Analysis
Ripple price saw a decent increase this past week as it climbed above the $0.4250 resistance against the US Dollar. The XRP/USD pair broke through a key contracting triangle with resistance near $0.430 on its 4-hour chart, pushing it up towards highs of $0.4750 before correcting lower again. Currently, Ripple is trading close to $0.452 and needs to stay above its current support level at $0.440 if it wants to remain in a bullish zone and make further gains towards its next major resistance at around $0.4700 or higher at around $0.5000 levels in order to continue its upward trend momentum .
On the upside, there are some notable resistances that Ripple must overcome before making any substantial gains beyond its current range of prices between 0 – 0$.47000 USD range such as: The first major resistance is near the$ 0 .470 level which if broken can see significant gains being made by XRP; followed by another major resistance at around$ 0 .4750 which if broken could open up opportunities for further increases towards$ 0 .5000 levels and beyond.. Furthermore, any further gains might then send Ripple’s prices even higher towards$ 0 .525 levels depending on market conditions and overall sentiment around cryptocurrencies generally speaking during this period of time too..
For now however, there are certain support levels that need to be monitored if we want to see Ripple maintain an upward trend within its current range of prices between 0 – 0$.47000 USD such as: Initial support lies around$ 0 .451; followed by another major support level located at roughly$ 0 .4400; finally, any further losses could lead Ripple’s prices down toward$ 0 .42 or even as low as$ 0 .400 depending on how much selling pressure builds up over time..
The MACD for XRP/USD is now gaining momentum in bearish territory whilst also RSI (Relative Strength Index) for XRP/USD currently hovering close to 50 indicating no clear direction either way just yet..
Overall , given that Ripple’s price is still trading well above both its 55 simple moving average (4 hours) and initial support line located at roughly$ 0 .4400 respectively-that indicates that so far things are looking somewhat positive for XRP holders wanting further gains beyond what has already been achieved thus far.. Therefore , in order for us too see these potential gains come into fruition , we must firstly ensure that XRP continues too stay well supported by keeping it firmly planted above its current support level located at approximately$ 0 .440 otherwise we may find ourselves right back where we started once again soon enough