XRP Price Prediction: 25% Surge Could Be Just Start of A Larger Trend
March 22 2023 - 2:50AM
NEWSBTC
Ripple rallied above the $0.400 and $0.450 resistance levels
against the US Dollar. XRP price is up over 25% and there could be
more upsides in the near term. Ripple is gaining pace above the
$0.450 resistance against the US dollar. The price is now trading
above $0.45 and the 100 simple moving average (4-hours). There was
a break above a contracting triangle with resistance near $0.3980
on the 4-hours chart of the XRP/USD pair (data source from Kraken).
The pair rallied sharply towards $0.500 and there are chances of
more upsides in the near term. Ripple Price Starts Fresh Uptrend
This past week, ripple’s XRP formed a base above the $0.350 zone
against the US Dollar. The price started a steady increase above
the $0.3650 resistance zone but lagged pace like bitcoin and
ethereum. Finally, the bulls were able to clear a major hurdle near
the $0.400 zone. Besides, there was a break above a contracting
triangle with resistance near $0.3980 on the 4-hours chart of the
XRP/USD pair. The pair rallied over 25% and there was a clear move
above the $0.450 resistance. XRP price traded close to the $0.500
resistance. A high was formed near $0.4926 and the price is now
correcting gains. It is now trading above $0.45 and the 100 simple
moving average (4-hours). There was a move below the 23.6% Fib
retracement level of the upward move from the $0.3720 swing low to
$0.4926 high. However, the bulls are active above the $0.450 level.
On the upside, an initial resistance is near the $0.4700 zone.
Source: XRPUSD on TradingView.com The first major resistance is
near the $0.4950 level. The next key resistance is near the $0.500
level. A successful break above the $0.500 resistance might send
the price towards the $0.525 resistance. Any more gains might send
the price towards the $0.540 level. Dips Supported in XRP? If
ripple fails to clear the $0.495 resistance zone, it could continue
to move down. An initial support on the downside is near the $0.450
level. The next major support is near $0.432. If there is a
downside break and close below the $0.432 level, xrp price could
extend losses. In the stated case, the price could even test the
$0.400 support zone. Technical Indicators 4-Hours MACD – The MACD
for XRP/USD is now losing pace in the bullish zone. 4-Hours RSI
(Relative Strength Index) – The RSI for XRP/USD is now above the 50
level. Major Support Levels – $0.450, $0.432 and $0.40. Major
Resistance Levels – $0.47, $0.495 and $0.500.
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Sep 2024 to Oct 2024
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Oct 2023 to Oct 2024