Ripple XRP price against the US Dollar is increasing by over 17%. It has already broken the resistance level at US$0.3905 and is hovering just below the crucial resistance at US$0.45. Will the price of Ripple move above US$0.45 and continue major Bull Run?
24-Hour Ripple XRP Price Movement
Ripple price against the US Dollar (XRP/USD) is currently trading at 0.44472, an increase of 17.05% in 1-day range. While the previous close of Ripple price was US$0.37995, today it opened at US$0.37999. After opening, the price first went down to touch 24-hour low at US$0.37970 and then bounced back to touch 24-hour high at US$0.46669. At press time, the Ripple XRP price is revolving at US$0.444411452, moving precariously close to the crucial resistance level at US$0.45.
Ripple Price Analysis
Ripple XRP price (XRP/USD) against the US Dollar moved over the US$0.3000 after strong support was created at US$0.2800-level. The XRP price gained momentum after moving above the crucial resistance at US$0.3200 and at the same time the bearish trend line.
Once the US$0.3200 resistance level is breached upwards and the price moves above the 55 SMA (4-hour), many buyers came in to push the price above the US$0.35 level. The Ripple price $0.3900 soon sharply moved upside above the US$0.3900 and 0.4000 resistance levels.
On the 4-hour chart, XRP/USD price broke a key bullish continuation pattern where the resistance is located at US$0.3800. A minor downward correction may take place in the short run towards US$0.4110.
Ripple XRP Price Indicators
- The 23.6% Fibonacci retracement level of the last rise from the low at US$0.3436 to high at US$0.4325 is located at US$0.4115.
- The main support level is located at US$0.3905, which was a resistance level earlier. This level is the same as the 50% Fibonacci retracement level of the last rise from the low at US$0.3436 to high at US$0.4325.
- 4-hours MACD is currently residing comfortably within the bullish zone.
- 4-hours Relative Strength Index is located near the 75-level.
The Ripple XRP price may get adequate support levels near US$0.4110, US$0.4000 and US$0.3900 if it moves downwards. In case, the price moves upward, the main resistances will be at US$0.4350, US$0.4400, US$0.4500, and US$0.4600.
Photo Credit: https://pixabay.com/