Blockchain News

Ripple Price Analysis: XRP Poised for Potential Upside Break above $0.500 Resistance

Ripple’s price recently embarked on a downside correction after reaching the $0.5650 region against the US dollar. However, positive signs indicate a potential fresh increase in the near term. This article analyzes the current market situation and key support and resistance levels for XRP.

Ripple’s Downside Correction:

Ripple’s price began a downside correction from the $0.5650 zone against the US dollar. The price is trading below the $0.500 level and the 55 simple moving average (4 hours). However, a short-term rising channel is forming with resistance near $0.500 on the 4-hour chart of the XRP/USD pair, sourced from Kraken.

Potential Fresh Increase:

Despite the recent correction, there is optimism that the pair could initiate a fresh increase above the $0.500 resistance level. Like Bitcoin, Ripple’s price is consolidating near $0.488 against the US dollar. The XRP price needs to maintain support above the $0.4820 level to trigger this fresh increase.

Strong Increase in the Past Week:

The previous week, Ripple’s price witnessed a robust surge above the $0.520 resistance against the US dollar. The XRP/USD pair surpassed the $0.545 resistance, entering a positive zone. The price continued its upward trajectory and climbed towards the $0.550 resistance, forming a high of around $0.5650. However, a subsequent correction pushed the price lower.

Current Price Movement:

Following the correction, the price declined below the $0.525 and $0.500 levels, testing the $0.4550 zone. Eventually, a low formed near $0.4550, and the price rebounded. It broke the $0.465 resistance zone and moved above the 23.6% Fibonacci retracement level of the downward move from the $0.5650 swing high to the $0.4550 low.

Key Levels and Possible Scenarios:

Currently, the XRP price is trading below $0.500 and the 55 simple moving average (4 hours). Resistance near $0.500 persists, with a short-term rising channel taking shape on the 4-hour chart of the XRP/USD pair. The next significant resistance level lies near $0.510 or the 50% Fibonacci retracement level of the recent downward move.

If the price surpasses the $0.510 resistance, a substantial increase could be triggered. In this scenario, the price might surpass the $0.540 resistance, potentially leading to further gains toward the $0.5650 resistance.

Support levels on the downside include $0.4820 and $0.475. Further losses may drive the price toward the $0.4550 level, and if breached, the price could even test $0.420.

Technical Indicators:

The MACD for XRP/USD on the 4-hour chart is gaining momentum in the bullish zone, suggesting a positive outlook. Additionally, the RSI (Relative Strength Index) for XRP/USD is above the 50 level, reinforcing the potential for upward movement.


Despite the recent downside correction, Ripple’s price retains the potential for a fresh increase above the $0.500 resistance level. Traders should closely monitor the key support and resistance levels mentioned above to gauge future price movement. Overall, XRP seems poised for a potential upside breakout in the near term.


Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.