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Ripple Bulls Aim For $0.60 or Higher

April 21, 2023
in Analysis
Reading Time: 2 mins read
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Ripple is consolidating above the $0.500 help towards the US Greenback. XRP value may rally if there’s a clear transfer above the $0.535 resistance.

Ripple began a contemporary improve from the $0.500 zone towards the US greenback.
The worth is now buying and selling above $0.510 and the 100 easy transferring common (4 hours).
There’s a main bullish pattern line forming with help close to $0.5100 on the 4-hours chart of the XRP/USD pair (knowledge supply from Kraken).
The pair may acquire bullish momentum if it clears the $0.535 resistance zone.

Ripple Worth Eyes One other Enhance

After forming a base above the $0.4880 zone, Ripple’s XRP began a contemporary improve towards the US Greenback. There was a gradual improve above the $0.500 and $0.510 resistance ranges, just like Bitcoin.

The worth climbed above the $0.525 resistance however the bears appear to be defending the $0.535 zone. The latest excessive is fashioned close to $0.5382 and the worth is now consolidating. It traded beneath the 23.6% Fib retracement stage of the upward transfer from the $0.5072 swing low to the $0.5382 excessive.

XRP is now buying and selling above $0.510 and the 100 easy transferring common (4 hours). There’s additionally a serious bullish pattern line forming with help close to $0.5100 on the 4-hours chart of the XRP/USD pair.

XRP Price Prediction

Supply: XRPUSD on TradingView.com

Preliminary resistance is close to the $0.5320 zone. The primary main resistance is close to the $0.535 stage. A profitable break above the $0.535 resistance may ship the worth towards the $0.5475 resistance. Any extra beneficial properties may ship the worth towards the $0.600 stage.

Are Dips Supported in XRP?

If ripple fails to clear the $0.535 resistance zone, it may proceed to maneuver down. Preliminary help on the draw back is close to the $0.522 zone.

The subsequent main help is close to $0.519 or the 61.8% Fib retracement stage of the upward transfer from the $0.5072 swing low to the $0.5382 excessive. The principle help is close to $0.510 or the pattern line. If there’s a draw back break and an in depth beneath the $0.510 stage, XRP’s value may prolong losses. Within the said case, the worth may take a look at the $0.488 help zone.

Technical Indicators

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

4-Hours RSI (Relative Power Index) – The RSI for XRP/USD is now above the 50 stage.

Main Help Ranges – $0.519, $0.510, and $0.488.

Main Resistance Ranges – $0.535, $0.5475, and $0.600.

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Tags: AimbullsHigherRipple
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