More On: xrp
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In the coming weeks, President Biden will nominate a former Ripple adviser to be the Fed's Vice-Chair for Supervision.
Unlike bitcoin, the price of Ripple is currently rising above the $0.82 mark versus the US dollar. If the price of XRP continues to rise above $0.9, it will be a significant milestone.
- The price of Ripple against the US dollar has begun a new rise over the $0.82 barrier zone.
- The price has recently risen above $0.82 and the 55-day simple moving average (SMA 55). (4-hours).
- On the 4-hours chart of the XRP/USD pair, a crucial bullish trend line with support at $0.8380 is forming (data source from Bittrex).
- A break over the $0.9000 resistance level may signal the beginning of yet another ascending trend.
A look at the Ripple Price
In the last few days, ripple price rose above the $0.8000 level against the US dollar. In the end, the XRP/USD pair broke through the $0.8200 level to move into a positive zone.
Moving above the $0.8500 zone and closing above the 55 simple moving average were clear signs that the market was going to rise (4-hours). Even though the price was above the $0.8650 level, it went up to $0.8722. It is now regaining ground below $0.8720, but it still has a long way to go. An early level of support is around the $0.8600 mark.
When it rose from its low of $0.8200 to its high of $0.8722, it came close to the 23.6 percent Fib level. It's next to the $0.8460 level where there's a lot of help.
Also, the 50% Fib retracement level of the upward move from the swing low to the high is near the 0.8460 level. On the 4-hours chart of the XRP/USD pair, there is also a key bullish trend line with support near $0.8380. This line is a key support level for the pair.
Near the $0.8200 area and the 55 simple moving average, there is a lot of support for this stock (4-hours). Any more losses could push the price down to the $0.8000 level in the near term, below which the price could even hit $0.7500. This could happen quickly.
There is a lot of resistance on the upside, near the price of $0.8750, where it is. Near the $0.9 level, the next important level is a big one. Any more gains could push the price to the level of $0.9550.
When you look at the chart, ripple price is now above $0.8200 and the 55 simple moving average (4-hours). All in all, if the price can break through the $0.9000 resistance zone, it could start another rise.
- 4 hours MACD – The MACD for XRP/USD is now moving in the right direction.
- For the 4 hours, the RSI for XRP/USD is above the 50 level.
You can find the most important levels of support at a price of $86,000, $85,000, and $8,000.
Between $0.8750 and $90,000 are two of the most important points of resistance for this stock.
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