Blog

Ripple’s token value is rising above $0.50 in opposition to the US Dollar. XRP value may begin a contemporary rally if it clears the $0.515 and $0.525 resistance ranges.

• Ripple’s token value is trying a transfer above $0.515 and $0.525 in opposition to the US greenback.
• The value is now buying and selling above $0.500 and the 100 easy transferring common (4 hours).
• There is a connecting bullish development line forming with help close to $0.500 on the 4-hour chart of the XRP/USD pair (information supply from Kraken).
• The pair would possibly achieve bullish momentum if there’s a shut above $0.515.

Ripple’s Token Price Could Accelerate Above $0.515

In the final XRP price prediction, we mentioned a doable upward transfer in Ripple’s XRP in opposition to the US Dollar. The value did observe a optimistic path above the $0.480 pivot degree, like Bitcoin and Ethereum.

There was a transparent transfer above the $0.50 resistance zone. It climbed above the 50% Fib retracement degree of the important thing decline from the $0.5491 swing excessive to the $0.4590 low. The bulls at the moment are trying extra good points above the $0.515 resistance.

XRP is now buying and selling above $0.500 and the 100 easy transferring common (4 hours). Besides, there’s a connecting bullish development line forming with help close to $0.500 on the 4-hour chart of the XRP/USD pair.

On the upside, rapid resistance is close to the $0.515 degree. It is near the 61.8% Fib retracement degree of the important thing decline from the $0.5491 swing excessive to the $0.4590 low.  The subsequent main resistance is close to the $0.5250 degree. A detailed above the $0.525 degree may ship the value towards the $0.550 barrier.

Source: XRPUSD on TradingView.com

A profitable break above the $0.550 resistance degree would possibly begin a powerful rally towards the $0.585 resistance. Any extra good points would possibly name for a check of the $0.600 resistance.

Are Dips Limited in XRP?

If ripple fails to clear the $0.515 resistance zone, it may begin a draw back correction. Initial help on the draw back is close to the $0.50 zone and the development line.

The subsequent main help is at $0.490. If there’s a draw back break and an in depth beneath the $0.490 degree, XRP’s value may prolong losses. In the acknowledged case, the value may retest the $0.458 help 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 above the 50 degree.

Major Support Levels – $0.500, $0.490, and $0.458.

Major Resistance Levels – $0.515, $0.525, and $0.550.