XRP Holds Key Support With More Chances Of A Fresh Increase

XRP holds key support with more chances of a fresh increase despite trimming the gains from the $0.6000 resistance against the US dollar and the price is now trading above the $0.4500 and could attempt another increase above it so let’s read more in our latest Ripple price news.

Rippel broke the $0.5500 support zone but stayed above the $0.4500 against the US dollar with the price now back above $0.500 and the 100 simple moving average. This recorded a break below the major bullish trend line with the support near $0.5380 on the 4-hour charts of the pair, which looks like there’s no closing down below the $0.500 support. Over the past week, XRP outperformed BTC and ETH with a strong move above $0.5000 and the price increased even higher, breaking the 100 simple moving average.

The bears were active near the $0.600 zone and a new high was formed near the $0.5998 and the price starting a fresh decline. There was another break below the $0.5800 and the $0.550 support and dived below it even further. There was a break below the major bullish trend line with the support near the $0.5380 on the 4-hour charts of the pair with a new low forming near the $0.4544 and the price correcting higher. The pair is trading above the $0.500 and the 100 simple moving average as it cleared the 50% fib retracement level from the drop of the $0.5997 high to the $0.4555 low.

The first resistance is set at the $0.5200 level with the main resistance near the $0.5445 level and closing to the 61.8% fib retracement level from the drop of $0.5997 high to $0.4544 low. breaking above these levels could open the doors for another increase to $0.6000. If XRP fails to clear the $0.5445 resistance or the $0.5200 it could start a fresh drop with the initial support on the downside nearing the $0.5100 level.

XRP holds key support near the $0.500 with more chances to surge higher. More losses could lead the price towards $0.4500 support but the 4-hour MACD for the pair is now gaining pace in the bullish zone. The 4-hour RSI for the pair is now above the 50 levels. XRP had a rough past few months but the developments in the SEC case are likely turning for the better.