• Ripple price started a fresh increase from the $0.78 support zone against the US dollar.
  • The price is now trading above $0.90 and the 55 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $0.8290 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could continue to move up if there is a clear break above the $0.920 resistance.

Ripple price is gaining pace above $0.900 against the US Dollar, unlike bitcoin. XRP price could extend gains if there is a move above the $0.920 barrier.

Ripple Price Analysis

After forming a base above the $0.7500 level, ripple price started a fresh increase against the US Dollar. The XRP/USD pair cleared the $0.8000 resistance zone to move into a positive zone.

The pair even climbed above the $0.8500 zone and the 55 simple moving average (4-hours). Besides, there was a break above a major bearish trend line with resistance near $0.8290 on the 4-hours chart of the XRP/USD pair.

The pair is now trading above $0.9000 and showing positive signs. It traded as high as $0.9143 and is now consolidating gains. On the downside, an initial support is near the $0.8820 level. It is near the 23.6% Fib retracement level of the upward move from the $0.7762 swing low to $0.9143 high.

The first major support is near the $0.8500 level. It is near the 50% Fib retracement level of the upward move from the $0.7762 swing low to $0.9143 high. Any more losses could lead the price towards the $0.8000 level in the near term.

On the upside, the price is facing…


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