November 27, 2020

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Ripple Price Analysis: More Upsides Likely Above $0.275 | Live Bitcoin News

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  • Ripple price started a strong increase above the $0.2600 and $0.2650 resistance levels against the US dollar.
  • The price rallied towards the $0.2780 level and settled well above the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $0.2650 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair remains well bid and it seems like the bulls are eyeing more gains above $0.2750 and $0.2780.

Ripple price is gaining pace above the $0.2650 level against the US Dollar. XRP price is showing positive signs and it is likely to extend its rise above $0.2780.

Ripple Price Analysis

This past week, there was a strong upward move in ripple price from the $0.2450 support against the US Dollar. The XRP/USD pair broke the $0.2600 resistance zone to move into a positive zone.

There was also a break above the $0.2650 resistance and the price settled well above the 55 simple moving average (4-hours). The pair traded as high as $0.2779 before correcting lower. It traded below the $0.2700 support level.

There was a break below 23.6% Fib retracement level of the upward move from the $0.2531 swing low to $0.2779 high. However, the bulls are now protecting the $0.2650 support level.

There is also a major bullish trend line forming with support near $0.2650 on the 4-hours chart of the XRP/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $0.2531 swing low to $0.2779 high.

If there is a downside break below the trend line, the price could test the $0.2590 support level. The stated support at $0.2590 is close to the 55 simple moving average (4-hours), below which the price could test $0.2450.

On the upside, ripple price is facing hurdles near the $0.2750 level. The next major resistance is near the $0.2780 and $0.2785 levels. A clear break above the $0.2780 and $0.2785 resistance levels could send ripple price above the $0.2800 barrier.

Ripple Price

Ripple Price

Looking at the chart, ripple price is clearly is trading above the $0.2650 support and it is well above the 55 simple moving average (4-hours). Overall, the price remains well bid and it seems like the bulls are eyeing more gains above $0.2750 and $0.2780.

Technical indicators

4 hours MACD – The MACD for XRP/USD is showing positive signs in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now flat just above the 55 level.

Key Support Levels – $0.2650, $0.2620 and $0.2590.

Key Resistance Levels – $0.2750 and $0.2780.

Tags: Ripple, XRP

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