Home / Ripple Price Predictions / Ripple Price Technical Analysis – Can XRP/USD Gain Upside Momentum?
Ripple Price Technical Analysis – Can XRP/USD Gain Upside Momentum?

Ripple Price Technical Analysis – Can XRP/USD Gain Upside Momentum?

Key Highlights

  • Ripple value is discovering sturdy shopping for curiosity close to the $zero.9100 stage towards the US greenback.
  • Buyers are attempting to push the value above a bearish pattern line at $zero.9550 on the hourly chart of the XRP/USD pair (information supply from SimpleFx).
  • The pair may speed up increased as soon as there’s a shut above the $zero.9800 resistance within the close to time period.

Ripple value is following a bullish path towards the US Dollar and Bitcoin. XRP/USD ought to transfer above the $zero.9800 resistance to realize upside momentum.

Ripple Price Rise

There was a positive development in Ripple value from the $zero.9000 swing low towards the US Dollar. The value examined the $zero.9100 and $zero.9000 assist ranges on a few events. However, sellers did not push the value beneath $zero.9000, which prompted an upside transfer. It looks like there’s a main assist base forming above $zero.9000, which may increase bullish strain within the close to time period.

Earlier, there was a dip beneath the 50% Fib retracement stage of the final wave from the $zero.8398 low to $1.0268 excessive. However, the draw back transfer was restricted by $zero.9100. Moreover, the 61.8% Fib retracement stage of the final wave from the $zero.8398 low to $1.0268 excessive additionally acted as a assist. An upside transfer in underway, and the XRP/USD pair is making an attempt to push the value above a bearish pattern line at $zero.9550 on the hourly chart. Should there be an in depth above $zero.9600 and $zero.9800, the value may transfer above $1.0000.

Ripple Price Technical Analysis XRP USD

Above $1.0000, it has to interrupt the $1.0265 excessive to rise additional. The total bias is optimistic so long as the value is above the $zero.9100 and $zero.9000 assist ranges.

Looking on the technical indicators:

Hourly MACD – The MACD for XRP/USD is usually flat with just a few bearish indicators.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD has simply moved beneath the 50 stage.

Major Support Level – $zero.9200

Major Resistance Level – $1.0250

 

Charts courtesy – SimpleFX

Ripple Price Technical Analysis – Can XRP/USD Gain Upside Momentum?

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and monetary markets. He specialises in market methods and technical evaluation, and has spent over a DECADE as a monetary markets contributor and observer. He possesses sturdy technical analytical expertise and is well-known for his entertaining and informative evaluation of the forex, commodities, Bitcoin and Ethereum markets.

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