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Ripple’s token worth is correcting positive factors from $0.550 towards the US Dollar. XRP worth may begin a contemporary bullish wave except there’s a shut under $0.50.

• Ripple’s token worth is correcting positive factors from the 0.550 resistance towards the US greenback.
• The worth is now buying and selling above $0.505 and the 100 easy transferring common (4 hours).
• There is a key bullish pattern line forming with help close to $0.504 on the 4-hour chart of the XRP/USD pair (knowledge supply from Kraken).
• The pair may begin a contemporary enhance if it stays above the $0.500 and $0.490 help ranges.

Ripple’s Token Price Holds Key Support

In the final XRP worth prediction, we mentioned an honest enhance towards the US Dollar. The worth remained well-bid above the $0.520 degree and climbed additional greater, like Bitcoin and Ethereum.

The worth surpassed the $0.532 resistance and examined $0.550. A excessive was fashioned close to $0.5493 and the worth noticed a draw back correction. There was a transfer under $0.532 and $0.525. There was a break under the 50% Fib retracement degree of the upward transfer from the $0.4907 swing low to the $0.5493 excessive.

However, XRP continues to be buying and selling above $0.505 and the 100 easy transferring common (4 hours). Besides, there’s a key bullish pattern line forming with help close to $0.504 on the 4-hour chart of the XRP/USD pair.

Source: XRPUSD on TradingView.com

On the upside, quick resistance is close to the $0.515 degree. Besides, there’s a connecting bearish pattern line at $0.520. A shut above the $0.520 degree may ship the worth towards the $0.532 barrier. A profitable break above the $0.532 resistance degree may begin a robust enhance towards the $0.550 resistance. Any extra positive factors may ship XRP towards the $0.580 resistance.

More Losses in XRP?

If ripple fails to clear the $0.532 resistance zone, it may proceed to maneuver down. Initial help on the draw back is close to the $0.5065 zone and the 100 easy transferring common (4 hours).

The subsequent main help is at $0.500. If there’s a draw back break and an in depth under the $0.500 degree, XRP’s worth may lengthen losses. In the acknowledged case, the worth may retest the $0.475 help zone.

Technical Indicators

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

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

Major Support Levels – $0.505, $0.500, and $0.490.

Major Resistance Levels – $0.520, $0.532, and $0.550.