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Ripple’s token value is rising above the $0.50 resistance in opposition to the US Dollar. XRP value may proceed to rise towards the $0.525 and $0.550 resistance ranges.

• Ripple’s token value began a contemporary enhance above the $0.480 resistance in opposition to the US greenback.
• The value is now buying and selling above $0.50 and the 100 easy transferring common (4 hours).
• There is a key bullish development line forming with assist close to $0.4910 on the 4-hour chart of the XRP/USD pair (information supply from Kraken).
• The pair may proceed to rise towards the $0.525 and $0.550 resistance ranges.

Ripple’s Token Price Rallies 5%

In the previous few days, Ripple’s XRP noticed an honest enhance from the $0.420 assist in opposition to the US Dollar. It outperformed Bitcoin and Ethereum to maneuver right into a bullish zone.

There was a transparent transfer above the $0.475 and $0.480 resistance ranges. It even surpassed $0.500. A excessive is fashioned close to $0.5047 and the value is now consolidating features. It is buying and selling above the 23.6% Fib retracement degree of the upward transfer from the $0.4433 swing low to the $0.5047 excessive.

XRP value can also be buying and selling above $0.50 and the 100 easy transferring common (4 hours). Besides, there’s a key bullish development line forming with assist close to $0.4910 on the 4-hour chart of the XRP/USD pair.

Source: XRPUSD on TradingView.com

Initial resistance is close to the $0.5050 zone. The first main resistance is close to the $0.525 degree. A profitable break above the $0.525 resistance degree may ship the value towards the $0.550 resistance. Any extra features may name for a check of the $0.585 resistance.

Are Dips Limited in XRP?

If ripple fails to clear the $0.505 resistance zone, it may begin a draw back correction. Initial assist on the draw back is close to the $0.491 zone and the development line.

The subsequent main assist is close to $0.474 or the 50% Fib retracement degree of the upward transfer from the $0.4433 swing low to the $0.5047 excessive. If there’s a draw back break and an in depth under the $0.474 degree, XRP’s value may prolong losses. In the acknowledged case, the value may check the $0.450 assist zone.

Technical Indicators

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

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now within the overbought zone.

Major Support Levels – $0.491, $0.474, and $0.450.

Major Resistance Levels – $0.505, $0.525, and $0.550.