Ripple Price Analysis: Bulls Continue To Struggle Near $0.482

Ripple price is struggling below $0.4820 against the US Dollar, similar to bitcoin. XRP price must stay above $0.4450 to attempt a fresh increase in the near term.

Ripple Price Analysis

This past week, ripple price saw a bearish reaction from the $0.4820 zone against the US Dollar. The XRP/USD pair declined below the $0.4720 support zone to move into a bearish zone.

The price even traded below the $0.4650 level and the 55 simple moving average (4-hours). There was a break below a key bullish trend line with support near $0.4685 on the 4-hours chart of the XRP/USD pair. The pair even tested the 50% Fib retracement level of the upward move from the $0.4225 swing low to $0.4813 high.

It is now trading below $0.460 and near the 55 simple moving average (4-hours). An initial support on the downside is near the $0.4520 level.

The next major support is near the $0.4450 level. It is near the 61.8% Fib retracement level of the upward move from the $0.4225 swing low to $0.4813 high. Any more losses could lead the price towards the $0.4220 level, below which the price might even test $0.4000.

On the upside, the price is facing resistance near $0.4620. The next major resistance is near the $0.4820 level. The main resistance is near the $0.500 zone. A clear move above the $0.4820 and $0.5000 resistance zones might start a fresh increase. In the stated case, the price could even surpass the $0.525 resistance. Any more gains might send the price towards the $0.550 resistance.

Ripple Price

Looking at the chart, ripple price is now trading below the $0.470 zone and near the 55 simple moving average (4-hours). Overall, the price could start a steady increase if it clears the $0.4820 and $0.5000 resistance levels.

Technical indicators

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

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

Key Support Levels – $0.4520, $0.4450 and $0.4220.

Key Resistance Levels – $0.4820 and $0.5000.

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