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.
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.
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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