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Ripple’s Weekly Charts Signal Massive Breakout To $0.75

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Ripple’s Weekly charts signal another huge breakout towards $0.75 as XRP surged by 40% and broke the $0.4500 resistance against the US dollar. XRP’s price weekly chart suggests more chances of another upside above $0.75 as we read in today’s Ripple XRP price news.

The price cleared the $0.4000 resistance and settled well above the 100-week simple moving average. There was also a break above the crucial bearish trend line with the resistance near the $0.2950 on the weekly charts of the pair. XRP/USD remains increased and the bulls will now aim for a test of $0.6000 and $0.7500. Over the past few days, there was a sharp increase in the ripple price above the $0.3000 resistance zone so the price gained more pace and there was another close above $0.3000 with the 100-week simple moving average.

ripple chart
Source XRP/USD on TradingView.com

What’s even more important, there was a break above the crucial trend line with the resistance nearing close to $0.2950 on the weekly charts of the pair. The movement opened the doors for a sharp increase above the $0.3200 so the price then surged again above the 61.8% fib retracement level from the main decline at $0.5081 swing high to $0.1131 low. Ripple’s price remained settled above the $0.4000 resistance and spiked to $0.5000 so the price I snow trading above the 76% fib retracement level of the main decline at $0.5081 swing high to $0.1131 low.

xrp.usd
Image Courtesy of Bagsy. Source XRPUSD on TradingView.

Ripple’s weekly charts show that the candle seems positive and looks like there are more chances of another upside above the $0.5000 levels. The next target for the bulls could hit the $0.6000 level so further gains could open the doors to a rally at the $0.7500 level.  Right now, the 1.618 Fib extension level here could drop to a $0.1131 low which could set a new target for the bulls at $0.7522. If ripple fails to clear the $0.5000 resistance level, there could be another downside correction with the first support nearing at $0.4150 level. The next major support is nearing the $0.03550 level while the 4-hours MACD is gaining pace in the bullish zone. The 4-hour RSI for the pair is well above 70 levels while the major support levels include $0.4150, $0.3850 and $0.3550. The major resistance levels are set at $0.5000, $0.5080, and $0.6000.

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Source: https://www.dcforecasts.com/ripple-news/ripples-weekly-charts-signal-massive-breakout-to-0-75/

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