XRP Price Prediction: Ripple Lacks Momentum But Holders Are Safe, Here’s Why

2023-2-21 08:26

Ripple is struggling to clear the $0.405 resistance zone against the US Dollar. XRP price must stay above $0.380 to avoid a sharp bearish reaction.

Ripple is currently moving lower from the $0.4050 resistance zone against the US dollar. The price is now trading above $0.395 and the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.400 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could rally if there is a clear move above the $0.400 and $0.405 resistance levels. Ripple Price Aims Higher

This past week, ripple’s XRP started a decent increase from the $0.364 zone against the US Dollar. The price was able to climb above the $0.385 and $0.392 resistance levels, similar to bitcoin and ethereum.

During the increase, there was a move above the 50% Fib retracement level of the downward move from the $0.4204 swing high to $0.3621 low. It even spiked above the $0.4000 resistance, but there was no upside continuation.

A high was formed near $0.4066 and the price is now slowly moving lower. XRP price is still trading above $0.395 and the 100 simple moving average (4-hours).

On the upside, an initial resistance is near the $0.400 zone. There is also a major bearish trend line forming with resistance near $0.400 on the 4-hours chart of the XRP/USD pair. The trend line is near the 76.4% Fib retracement level of the downward move from the $0.4204 swing high to $0.3621 low.

Source: XRPUSD on TradingView.com

The next key resistance is near the $0.420 level. A successful break above the $0.420 resistance might send the price towards the $0.450 resistance. Any more gains might send the price towards the $0.485 level.

More Losses in XRP?

If ripple fails to clear the $0.400 resistance zone, it could continue to move down. An initial support on the downside is near the $0.390 level.

The next major support is near $0.380. If there is a downside break and close below the $0.380 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.365 support.

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 – $0.390, $0.380 and $0.365.

Major Resistance Levels – $0.400, $0.420 and $0.450.

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Ripple (XRP) на Currencies.ru

$ 0.537 (-0.12%)
Объем 24H $1.976b
Изменеия 24h: -0.09 %, 7d: 7.39 %
Cегодня L: $0.5327 - H: $0.5394
Капитализация $29.689b Rank 7
Цена в час новости $ 0.3998 (34.32%)

ripple xrp resistance zone price dollar against

Источник: newsbtc.com

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