Like bitcoin, Ripple is trading in a positive zone above $0.6000 against the US Dollar. That’s, If the price of XRP breaks through the $0.7250 barrier zone, it may continue to rise.
After a significant drop, the price of ripple found support near the $0.5500 level versus the US Dollar. Also, The XRP/USD pair created a base and began to rise steadily over the $0.6000 resistance level.
Notably, After clearing the $0.6200 and $0.6250 levels, the couple picked up speed. On the 4-hours chart of the XRP/USD pair, there was also a break over a significant negative trend line with resistance near $0.6680. The pair even broke through the 50% Fib retracement level of the decline from the $0.8070 swing high to the $0.5500 low.
Additionally, XRP is now trading above the 55 simple moving average and over $0.7000. (4-hours). Near the $0.7250 mark, there is instant resistance. Near the $0.7450 level, the next major resistance is visible.
Near the $0.7450 level, the 76.4 percent Fib retracement level of the downward move from the $0.8070 swing high to $0.5500 low acts as resistance. Also, Any further rises could push the xrp price towards $0.8200. Then, The xrp price may correct lower if there is no upside break over $0.7250.
Near the $0.7020 level, there is immediate support on the downside. Near the $0.6500 level and the broken trend line, the next key support is found. So, Any further losses could push the price towards the $0.6200 level and the 55 SMA (4-hours).
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