Ripple price is moving higher above the $0.400 level against the US dollar.
The price is now trading above $0.400 and the 55 simple moving average (4-hours).
There is a key bullish trend line forming with support near $0.4120 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
The pair could gain bullish momentum if it clears the $0.4300 resistance zone in the near term.

Ripple price is rising steadily above $0.400 against the US Dollar, unlike bitcoin. XRP price must clear $0.430 to continue higher in the coming sessions.

Ripple Price Analysis

After forming a base near the $0.3950 zone, ripple price started a fresh increase against the US Dollar. The XRP/USD pair was able to clear the $0.4000 resistance zone.

The price even broke the $0.4080 resistance and the 55 simple moving average (4-hours). The pair is now trading above the $0.400 resistance. It is also showing positive signs above $0.4120 and the 55 simple moving average (4-hours).

On the upside, the price is facing resistance near $0.4150. It is near the 50% Fib retracement level of the recent decline from the $0.4329 swing high to $0.3977 low.

The next major resistance is near the $0.4200 level. It is near the 61.8% the 50% Fib retracement level of the recent decline from the $0.4329 swing high to $0.3977 low. A clear move above the $0.4200 resistance zone might start a strong increase. In the stated case, the price could even surpass the $0.4320 resistance.

Any more gains might send the price towards the $0.4880 resistance. An initial support on the downside is near the $0.4120 level.

There is also a key bullish trend line forming with support near $0.4120 on the 4-hours chart of the XRP/USD pair. The next major support is near the $0.4000 level. Any more losses could lead the price towards the $0.3880 level, below which the price might even test $0.3700.

Looking at the chart, ripple price is now trading above the $0.400 zone and the 55 simple moving average (4-hours). Overall, the price could gain bullish momentum if it clears the $0.430 resistance zone in the near term.

Technical indicators

4 hours MACD – The MACD for XRP/USD is now losing momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is above the 50 level.

Key Support Levels – $0.4120, $0.4000 and $0.3880.

Key Resistance Levels – $0.4200 and $0.432.

The post Ripple Price Analysis: Key Breakout Resistance At $0.43 appeared first on Live Bitcoin News.

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Filed under: Bitcoin - @ January 30, 2023 5:08 am