XRP Price Prediction: Bulls Could Aim $0.4 or Higher

XRP Price Prediction: Bulls Could Aim alt=

Ripple is breaking through the $0.350 resistance level against the US Dollar. If the XRP price breaks through the $0.3720 resistance zone, it could rise even further.

  • Ripple is currently trading above the $0.35 resistance level when compared to the US dollar.
  • The price is now above $0.350 and above the 100 simple moving average (4 hours).
  • 4-hour-hours chart of the XRP/USD pair, there was a break above a critical bearish trend line with resistance near $0.3495. (Data source from Kraken).
  • If the pair breaks through the $0.3720 resistance zone, it could rise even higher.

Ripple Price Extends Gains

Following a sharp drop, Ripple’s XRP found support against the US dollar near $0.3000. Before, beginning a recovery wave, the price formed a base above $0.3050.

Above the $0.3250 and $0.3300 resistance levels, there was a significant increase. Furthermore, the XRP/USD pair broke above a critical bearish trend line with resistance near $0.3495 on the 4-hours chart. The upward trend accelerated above the $0.350 level.

The price is now above the 76.4% Fib retracement level of the prominent decline from the $0.3727 swing high to the $0.3009 low. It trades above $0.350 and the 100 SMA (4 hours), outperforming bitcoin and ethereum.

Near the $0.372 level, there is immediate resistance. The next significant resistance is near $0.390. It is close to the 1.236 Fib extension level of the prominent decline from the $0.3727 swing high to the $0.3009 low.

XRP Price Forks Daily

If the price successfully breaks above the $0.390 resistance, it may move toward the $0.400 resistance. Any further gains could push the price up to $0.432 in the coming days.

Fresh Decline in XRP? 

If ripple fails to break through the $0.372 resistance level, it may begin a downward trend. On the downside, an initial support level is near $0.355.

The 100 simple moving average and $0.345 are the next major supports (4 hours). If the XRP price breaks down and closes below $0.345, it may extend losses. In the aforementioned scenario, the price could even fall below the $0.325 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 levels.

Major Support Levels – $0.355, $0.345, and $0.325.

Major Resistance Levels – $0.372, $0.390, and $0.400.

 

Share to Social Media

Recent Articles

Join Our Newsletter