Ripple’s bulls control the $0.44 level as XRP started a fresh increase above $0.40 against the US dollar. The price is likely to speed up further if it manages to clear the $0.4650 resistance as we can see more in our latest XRP news below.
Ripple is up over 15% and it broke the major resistance close to the $0.42 level against the US dollar. The price is now trading well above $0.44 and the 100-day simple moving average with a key bearish trend line and resistance near 44 and the 100-day simple moving average with a key bearish trend line and resistance near $0..
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4650 on the daily chart of the pair that could start a new increase if it clears above the trend line of $0.4700. After forming a support base of $0.3800, Ripple’s XRP price started a strong increase and cleared above $0.400 resistance levels thus outperforming BTC.
There was a clear break above the 50% fib retracement level from the downward movement at the $0.5359 swing high to the $0.3424 low with the price now trading well above the $0.440 and the 100-day simple moving average. There are a few positive signs that emerged from the $0.450 level as well. The immediate resistnace is close to the $0.4620 level and it is close to the 61.8% fib retracement level from the $0.3424 low to the $0.5359 high. The main resistance is forming close to the $0.4650 level and there’s a key bearish trend line with the resistance of 4650 level and there’s a key bearish trend line with the resistance of $0..
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4650 on the daily chart of the pair. breaking above it could open the doors for a sharp increase to the $0.500 resistance and the next major resistance above this level could be set at $0.5800.
Ripple’s bulls control the higher levels now and if it fails to clear the $0.4620 level, XRP could start correcting lower. The initial support is close to the $0.4400 level while the first major support is near the $0.4200 level. The main support could be near the $0.3500 level and the 100-day SMA and if the price fails to stay above it, it could crash to the $0.34 support zone where the bulls will try and defend. The daily MACD for the pair is gaining momentum in the bullish zone while the daily RSI is well above 50.
As recently noted, The Japanese Giant SBI started offering XRP lending services despite all the issues that came out from the SEC lawsuit against the company.
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