XRP Price Forecast: Ripple is Primed For Rally And Only 1 Thing is Holding it Back
November 03 2022 - 4:58AM
NEWSBTC
Ripple is facing resistance near $0.46 against the US Dollar. XRP
price could start a fresh rally if it is able to clear the $0.46
and $0.478 resistance levels. Ripple is consolidating above the key
$0.442 support zone against the US dollar. The price is facing
hurdles near $0.460 and the 100 simple moving average (4-hours).
There is a crucial bearish trend line forming with resistance near
$0.4605 on the 4-hours chart of the XRP/USD pair (data source from
Kraken). The pair could start a strong increase if there is a clear
move above $0.462 and $0.482. Ripple Price Prepares For The Next
Move After a sharp decline, ripple’s XRP found support near the
$0.4220 zone against the US Dollar. XRP formed a base above the
$0.4220 level and started a fresh increase, similar to ethereum and
bitcoin. There was a clear move above the $0.435 and $0.445
resistance levels. The price climbed above the 50% Fib retracement
level of the downward move from the $0.5118 swing high to $0.4220
swing low. However, the price struggled to clear the $0.4800
resistance and the 100 simple moving average (4-hours). It failed
to clear the 61.8% Fib retracement level of the downward move from
the $0.5118 swing high to $0.4220 swing low. The price is now
facing hurdles near $0.460 and the 100 simple moving average
(4-hours). There is also a crucial bearish trend line forming with
resistance near $0.4605 on the 4-hours chart of the XRP/USD pair.
The main resistance is near the $0.478 and $0.480 levels. A
successful break above the $0.478 and $0.480 resistance levels
could spark another rally. Source: XRPUSD on TradingView.com The
next key resistance is near the $0.500 level, above which the bulls
are likely to aim a retest of the $0.55 barrier. Any more gains
might send the price towards the $0.60 level. Downside Break in
XRP? If ripple fails to start a fresh increase above the $0.478
level, it could start a fresh decline. An initial support on the
downside is near the $0.442 level. If there is a downside break and
close below the $0.442 level, xrp price could start a major
decline. In the stated case, the price could even decline below the
$0.422 support. Technical Indicators 4-Hours MACD – The MACD for
XRP/USD is now losing pace in the bearish zone. 4-Hours RSI
(Relative Strength Index) – The RSI for XRP/USD is now below the 50
level. Major Support Levels – $0.442, $0.422 and $0.405. Major
Resistance Levels – $0.462, $0.48 and $0.50.
Internet Computer (COIN:ICPUSD)
Historical Stock Chart
From Sep 2024 to Oct 2024
Internet Computer (COIN:ICPUSD)
Historical Stock Chart
From Oct 2023 to Oct 2024