Originally posted here. Summary by
By: Aayush Jindal
Overview
Ripple is building momentum above the $0.350 resistance and could lead to a new XRP news prediction. This could be good news for those asking “when will XRP rise?”.
XRP price projections vary, depending on who you ask, but most are wondering how high can XRP get? Predictions for Ripple, like any investment should be received with caution – the markets are volatile and circumstances change quickly with financial institutions and the crypto market making news daily.
You can follow price moves using TradingView XRP USD.
The Post
Ripple is gaining pace above the $0.350 resistance zone against the US Dollar. XRP price could rise further if it clears the $0.3720 resistance zone, leading many to adjust their Ripple price prediction.
Ripple is currently rising above the $0.35 resistance zone against the US dollar.
The price is now trading above $0.350 and the 100 simple moving average (4-hours).
There was a break above a crucial bearish trend line with resistance near $0.3495 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
The pair could rise further higher if there is a clear move above the $0.3720 resistance zone, which should lead to adjustments in many a Ripple price forecast.
Ripple Price Extends Gains
After a sharp decline, ripple’s XRP found support near the $0.3000 zone against the US Dollar. The price formed a base above the $0.3050 level before it started a recovery wave.
There was a decent increase above the $0.3250 and $0.3300 resistance levels. Besides, there was a break above a crucial bearish trend line with resistance near $0.3495 on the 4-hours chart of the XRP/USD pair. The upward move gained pace above the $0.350 level.
The price is now trading above the 76.4% Fib retracement level of the main drop from the $0.3727 swing high to $0.3009 low. It is also trading above $0.350 and the 100 simple moving average (4-hours), outperforming bitcoin and ethereum .
An immediate resistance is near the $0.372 zone. The next key resistance is near the $0.390 level. It is near the 1.236 Fib extension level of the main drop from the $0.3727 swing high to $0.3009 low.
Source: XRPUSD on TradingView.com
A successful break above the $0.390 resistance might send the price towards the $0.400 resistance. Any more gains might send the price towards the $0.432 level in the coming days.
Fresh Decline in XRP?
If ripple fails to clear the $0.372 resistance zone, it could start a downside correction, if this happens, an initial support on the downside is near the $0.355 level. Both possibilities should be considered in any Ripple price predictions.
The next major support is near $0.345 and the 100 simple moving average (4-hours). If there is a downside break and close below the $0.345 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.325 support.
Technical Indicators
4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.
4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – $0.355, $0.345 and $0.325.
Major Resistance Levels – $0.372, $0.390 and $0.400.
About Ripple
Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. Released in 2012, Ripple is built upon a distributed open source protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes.[2] Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks”. The ledger employs the native cryptocurrency known as XRP.