Technical Indicators:
Support Levels: $0.4220, $0.4200, $0.4000
Resistance Levels: $0.4400, $0.4500, $0.4600
Key Points:
- Ripple price gained more than 15% in the last 24 hours before correcting a few points downwards.
- XRP broke above $0.4220 resistance level and even moved over the $0.4300 resistance level to record a new yearly high around $0.4480.
- A bullish pattern is being formed on the hourly chart with the support at around $0.4080.
- The current momentum seems positive and Ripple price might soon test $0.4600, $0.4800 and $0.5000 levels.
Ripple Price Analysis:
SUMMARY: Ripple price remained bullish after rising above $0.4000 level and is currently up against both USD and BTC. XRP is well settled over $0.4200 and will most likely move above $0.4500 and $0.4600 levels soon.
Ripple price started a sharp bull run after breaking through $0.3500 resistance level. The bulls were able to move XRP price above many resistances such as $0.3700 and $0.3800 and the price even settled above the 100 hourly SMA. XRP has recorded a gain of more than 40% in just 3 days. Ripple price recently broke above $0.4000 level above which the bulls got ever stronger.
XRP broke above the $0.4200 resistance level to record a new yearly high at around $0.4480. Ripple price is currently supported at around $0.4220 which was the previous resistance zone. Below this, XRP is supported at $0.4200 and $0.4000.
The current resistance is at $0.4500 level above which Ripple price might test the $0.4600, $0.4800 and even $0.5000 levels in the coming few days. However, if XRP moves below $0.4000 level, the overall momentum might turn bearish.
The chart shows that Ripple price is currently trading with a bullish momentum above $0.4200 support level. If the bears start to act, XRP might soon fall back below $0.4000 level to turn bearish. However, as long as Ripple price remains above $0.4000 level, it might soon test $0.4500, $0.4800 and even $0.5000 levels in the next few days.
