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Why The Bulls Could Aim Fresh Rally To $0.45

XRP Price Prediction

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Ripple remained well above the $0.35 support against the US dollar. The XRP price seems to be waiting for another rally towards the $0.45 level.

  • Ripple started a decent rally from the $0.32 support area against the US dollar.
  • The price is now above $0.350 and the 100 simple moving average (4 hours).
  • On the 4-hour chart of the XRP/USD pair, there was a break above a major downtrend line with resistance near $0.374 (data source from Kraken).
  • The pair can start a strong rally if it clears the $0.400 resistance area.

Ripple Price Eyes Fresh addition

After a sharp decline, Ripple’s XRP formed a base above the $0.320 area against the US dollar. The price started a moderate rally above the $0.335 and $0.340 resistance levels.

The bulls pushed the price above the 23.6% Fib retracement level on the decline from the $0.5099 swing high to the $0.3200 swing low. Additionally, a major break above the downtrend line occurred with resistance near $0.374 on the 4-hour chart of the XRP/USD pair.

XRP is steadily rising above the 100 simple moving average (4 hours) and outperforming both bitcoin and ethereum. The price is now near $0.395 and $0.400. The first major resistance is near the $0.415 level.

The 50% Fib retracement level on the decline from the $0.5099 swing high to the $0.3200 swing low is also near $0.415. A successful break above the $0.415 resistance could send the price towards the $0.450 resistance.

Source: XRPUSD on TradingView.com

The next key resistance is near the $0.465 level. Any further gains could send the price towards the $0.50 level in the coming days.

Supported dips in XRP?

If ripple does not clear the $0.415 resistance area, it may slowly move lower. Initial support below is near the $0.380 level and the 100 simple moving average (4 hours).

The next major support is near $0.345. If a bearish trend occurs and closes below the $0.345 level, xrp price can extend losses. In the mentioned case, the price may even fall below the $0.320 support.

Technical indicators

4 Hour MACD – The MACD for XRP/USD is now declining in the bullish zone.

4 Hour RSI (Relative Strength Index) – XRP/USD RSI is now above the 50 level.

Key support levels – $0.380, $0.345 and $0.320.

Key resistance levels – $0.400, $0.415 and $0.450.

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