XRP Signals Fresh Rally To $0.55, Increasing 10% In A Day

XRP signals fresh rally to $0.55 as it increased 10% and broke the $0.4500 resistance against the US dollar. The price is now showing some positive signs and will continue higher to $0.50 and $0.55 so let’s read more in today’s ripple news.

Ripple is moving higher to the $0.500 resistance zone against the US dollar and XRP signals fresh rally with the price trading nicely above the $0.450 pivot level with the 100 simple moving average. There was also a break above the key contracting triangle with the resistance of $0.4350 on the 4-hour charts of the pair which could increase higher to $0.500 unless it doesn’t manage to stay above $0.4200.

After the minor decline, Ripple’s XRP price found a strong buying interest near the $0.400 level and the price then started a fresh increase while clearing the $0.4200 resistance to move into the bullish zone. There was a break above the key contracting triangle with the resistance near the $0.4350 on the 4-hour charts of the pair which surpassed the 23.6% fib retracement level from the downward move at $0.7450 swing high to the $0.4324 low. The price is trading nicely above the $0.4500 pivot level and the 100 simple moving average with the resistance being set at $0.500 level.

The next major resistance is near the $0.5445 level and it is close to the 50% fib retracement level from the downward move at $0.7450 high go $0.3424 low with more gains opening the doors for a surge above $0.5800. In this case, the price could climb above the $0.600 level.  If ripple fails to climb the $0.500 resistnace, there could be some more downside correction with the initial support on the downside nearing the $0.4500 level.

The next major support is set near the $0.4320 level with the downside break below the $0.4320 support zone that will open the doors for a push above $0.4200 support while more losses will push the price towards $0.400 support. The 4-hour MACD for the pair is gaining pace in the bullish zone while the 4-hour RSI is well above 50. As reported earlier, There are a few positive signs that emerged from the $0.450 level as well. The immediate resistnace is close to the $0.4620 level and it is close to the 61.8% fib retracement level from the $0.3424 low to the $0.5359 high. The main resistance is forming close to the $0.4650 level and there’s a key bearish trend line with the resistance of $0.4650 on the daily chart of the pair. breaking above it could open the doors for a sharp increase to the $0.500 resistance and the next major resistance above this level could be set at $0.5800.