Smashing this resistance can trigger a rally

Ripple is showing positive signs above the $0.365 support against the USD. The price of XRP appears to be eyeing a new rally towards the $0.48 levels.

• Ripple is slowly rising and is trading above $0.35 against the US dollar.
• The price is currently trading above $0.380 and the 100 simple moving average (4 hours).
• The 4-hour chart of the XRP/USD pair has a major bullish trendline forming with support near $0.381 (data source from Kraken).
• The pair can start a strong rally once it breaks out of the $0.415 resistance zone.

Ripple Price Eyes Upside Break

After a significant drop, Ripple’s XRP has found support near $0.320 against the US dollar. The price has started a decent rally above the $0.332 and $0.350 resistance levels.

The bulls were able to push the price above the 23.6% Fib retracement level of the key drop from the high swing of $0.5098 to the low swing value of $0.3200. The xrp price is currently trading above $0.380 and the 100 simple moving average (4 hours). The 4-hour chart of the XRP/USD pair has also formed a major bullish trendline supporting near $0.381.

It appears to be facing significant resistance near $0.415. This is close to the 50% Fib retracement level of the key drop from swing high of $0.5098 to swing low of $0.3200. The next big resistance is near $0.438.

Source: XRPUSD on TradingView.com

If the $0.438 resistance is broken out, the price can move towards the $0.465 resistance. The next significant resistance is near $0.480. Any further gains could push the price towards his $0.50 levels in the coming days.

XRP dip limit?

If Ripple fails to clear the $0.415 resistance zone, a downward correction is likely to start. The first support on the downside is near the $0.381 level, the trendline and the 100 simple moving average (4 hours).

The next major support is near $0.350. The xrp price may extend its losses if it closes below the $0.350 level. In the aforementioned case, the price could even break below the $0.320 support.

technical indicators

4-Hour MACD – XRP/USD’s MACD is currently picking up pace in the bullish zone.

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

Major Support Levels – $0.381, $0.365, $0.350.

Main resistance levels – $0.415, $0.438, $0.480.