• XRP is trading above the $0.4850 support level, following a key bullish trend line.
• The bulls seem to be aiming for another rally, with the next major resistance being near $0.5660.
• If there is no upside break, the price may decline towards the $0.4560 and $0.420 levels.

XRP Price Overview

Ripple’s XRP is consolidating above the key support of $0.4850 against US Dollar and preparing for its next move in the market. It has yet to break past the resistance at $0.510 in order to start a steady increase in price over the coming sessions.

Bullish Trend Line Support

The price has been trading below a key bullish trend line with support near $0.4890 on its 4-hour chart and needs to clear this level before it can aim higher again like Bitcoin and Ethereum have done recently.

Upside Targets

If XRP manages to break past resistance at $0.5110, it could rise further towards the 50% Fibonacci retracement level of 0$5240 or even 61.8% Fibonacci retracement level of 0$540 from its recent downward move from 0$5662 swing high to 0$4560 low . The main resistance sits near 0$56600 mark which could then propel XRP towards 0$580 or even 0$600 if momentum remains strong enough on an extended bull run across all markets..

Downside Scenario

On the downside, if there’s no upside break soon, XRP’s price might start another decline from its current levels as it faces resistance at around 0$5110 currently . Initial support lies near 0$485 mark along with 50 simple moving average (SMA) (blue, 4 hours). There’s also a key bullish trend line forming with support at around 0$489on its 4-hour chart which could hold any declines in check temporarily . The main support lies near the mark of 0$456 and any close below this level could trigger major bearish move in prices as they could drop towards 0 420 or lower marks in that case .


Overall , Ripple’s XRP seems to be preparing for its next move after hitting supports near $0.485 as it consolidates just shy of key resistance at around $0

By admin