The ripple found faces a major resistance near $ 0.5000 against the US dollar. The XRP price needs to stay above $ 0.4450 to avoid another downside break in the short term.
- Ripple faces a difficult task near the $ 0.4950 and $ 0.500 resistance levels against the US dollar.
- The price is now consolidating above $ 0.4500 and testing the 100 simple moving average (4 hours).
- The 4-hour chart for the XRP / USD pair (data source from Kraken) broke below a triangle with support near USD 0.4700.
- The pair could either rise above $ 0.5000 or fall below $ 0.4500 to test $ 0.4000.
Ripple’s XRP price is facing the resistance
There was a decent rebound in Ripple XRP above the $ 0.4200 and $ 0.4500 resistance levels. The price was even well above the $ 0.4500 level and the simple moving average of 100 (4 hours).
However, the price struggled to break the $ 0.4950 and $ 0.5000 resistance levels as Bitcoin and Ethereum rose higher. The recent high was near $ 0.4950 before the XRP corrected lower. There was a pause below the $ 0.4800 support level.
Source: XRPUSD on TradingView.com
The price, trading below the 23.6% fib retracement level of the uptrend, moved from the low of $ 0.3937 to the high of $ 0.4954. There was also a break below a triangle with support near USD 0.4700 on the 4-hour chart for the XRP / USD pair.
The price is now consolidating above $ 0.4500 and testing the 100 simple moving average (4 hours). The 50% Fib retracement level of the move up from the low of $ 0.3937 to the high of $ 0.4954 is also near the $ 0.4500 support. If there is a downside break below the USD 0.4500 support zone, a sharp decline could occur. In the indicated case, the price may revisit the support of $ 0.4000.
Fresh surge in XRP?
If the ripple stays above the USD 0.4500 support, it may lead to another spike. Initial resistance to the upside is near the $ 0.4950 level.
The main resistance is still at $ 0.5000. A significant break above $ 0.5000 will most likely trigger a sharp spike. The next major resistance is near the $ 0.5200 level, above which it could rise towards the $ 0.5500 level.
4 Hour MACD – The MACD for XRP / USD is struggling to gain pace in the bullish zone.
4-hour RSI (Relative Strength Index) – The RSI for XRP / USD is now below the 50 level.
Major support levels – $ 0.4500, $ 0.4200, and $ 0.4000.
Main Resistance Levels – $ 0.4950, $ 0.5000, and $ 0.5500.