Ripple Price Analysis: XRP/USD Sets Eyes on $0.4500

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Key Highlights

  • Ripple price is forming a solid support base near the $0.4270 level versus the US dollar.There was a short-term break above a bearish pattern line at$0.4320 on the per hour chart of the XRP/USD pair( information source from Kraken). The pair might move above$0.4370
  • to gain traction towards the $0.4500 level in the near term.Ripple rate is showing positive indications against the US Dollar and Bitcoin. XRP/USD has to move past $0.4370 to test the next hurdle near the $0.4500 level.Ripple Rate Resistances There were numerous rejections noted near the$0.4270 level in Ripple cost versus the US Dollar. The XRP/USD pair formed a strong assistance base around $0.4270 and moved higher. The price traded above the 23.6 %Fib retracement level of the last slide from the $0.4446 high to$ 0.4266 low. These are positive indications, however the price is dealing with a crucial resistance near $0.4370. Throughout the current advantage, there was a short-term break above a bearish pattern line at$0.4320 on the hourly chart of the XRP/USD pair. The cost dealt with a strong selling interest near$0.4365-70 and the 100 hourly simple moving average. The 50%Fib retracement level of the last slide from the$ 0.4446 high to$0.4266 low also acted as a resistance. There might be a minor downside push towards the$0.4300-20 zone in the near term. On the advantage, a break above$0.4370 might unlock for more gains to the $0.4500 level.Looking at the chart, the price stays well supported above the$0.4270 level. Should there be a break listed below this, the rate might perhaps move towards the$0.4100 level. The general predisposition is positive as long as the price is above $0.4270. Taking a look at the technical indicators: Hourly MACD– The MACD for XRP/USD is placed in the bullish zone.Hourly RSI(Relative Strength

    Index)– The RSI for XRP/USD is presently moving lower

    towards the 50 level.Major Support Level– $0.4270 Significant Resistance Level–$ 0.4370 The post Ripple Cost Analysis: XRP/USD Sets Eyes on $0.4500 appeared first on NewsBTC.