Ripple Price Analysis: XRP/USD Bullish Above $0.4250 ByAayush JindalPRO INVESTOR Updated: 13 August 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Join Our Telegram channel to stay up to date on breaking news coverage Key Highlights Ripple price surged higher and broke the key $0.4200 and $0.4300 resistance levels against the US dollar. There is a short-term channel formed with support at $0.4290 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to break the $0.4500 resistance to climb once again towards the $0.4700 level. Ripple price is placed in a bullish zone against the US Dollar and Bitcoin. XRP/USD may continue to accelerate gains above $0.4400 and $0.4500 in the near term. Ripple Price Analysis Yesterday, we saw a solid rally above the $0.4000 and $0.4200 resistance levels in Ripple price against the US Dollar. The XRP/USD pair even traded above the $0.4500 resistance and tested the $0.4700 zone. A high was formed at $0.4710 and later the price corrected sharply lower. It declined below the $0.4500 support and the $0.4400 pivot zone. Moreover, there was a break below the 50% Fib retracement level of the last wave from the $0.3884 low to $0.4710 high. However, the downside move was protected by the $0.4200-0.4250 zone. The price also stayed above the 61.8% Fib retracement level of the last wave from the $0.3884 low to $0.4710 high. More importantly, the price is still trading nicely above the $0.4200 support and the 100 hourly simple moving average. At the outset, there is a short-term channel formed with support at $0.4290 on the hourly chart of the XRP/USD pair. The pair may continue to move higher if there is a break above the $0.4500 and $0.4520 resistance levels. Looking at the chart, ripple price seems to be holding the $0.4200 and $0.4250 supports very well. Below these, the price will most likely move back in a bearish zone towards the $0.4000 and $0.3800 levels. Looking at the technical indicators: Hourly MACD – The MACD for XRP/USD is currently flat in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is well above the 50 level. Major Support Level – $0.4250 Major Resistance Level – $0.4520 The post Ripple Price Analysis: XRP/USD Bullish Above $0.4250 appeared first on NewsBTC. Join Our Telegram channel to stay up to date on breaking news coverage
