The price of a Ripple coin in relation to the US dollar is approaching $0.50. If the price of XRP breaks through the $0.515 and $0.525 resistance levels, a new surge may begin.
- In relation to the US dollar, Ripple’s token price is seeking to go above $0.515 and $0.525.
- The price is currently trading above $0.500 and the 4-hour 100 SMA.
- On the 4-hour chart of the XRP/USD pair (data source from Kraken), a connecting bullish trend line is forming, with support located close to $0.500.
- In the event that $0.515 is closed above, the pair may start to move higher.
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— Usman Ghazi (@ghazilive) September 17, 2023
Ripple’s Token Price Could Accelerate Above $0.515
The last XRP price prediction covered a potential increase in Ripple’s XRP relative to the US dollar. Like Bitcoin and Ethereum, the price did move in the right direction over the pivotal $0.480 mark.
Cryptocurrency analyst Jungle Inc 2.0 believes that the SEC's appeal in the #Ripple (XRP) case could have a downward impact on the price of the remittance token. According to the analyst, in a bearish scenario, the price of XRP could fall by another 30–40%. pic.twitter.com/QnbzfYkGPu
— Alek (@santjago_t) September 12, 2023
The $0.50 resistance area was clearly broken. It moved over the critical decline’s 50% Fib retracement level from the $0.5491 swing high to the $0.4590 low. More gains are being sought by the bulls above the $0.515 resistance.
Currently, the price of XRP is above $0.500 and the 4-hour 100 simple moving average. On the 4-hour chart of the XRP/USD pair, a connecting bullish trend line is also developing, with support located near $0.500.
On the upside, near the $0.515 level is the first point of resistance. It is near the important slide from the $0.5491 swing high to the $0.4590 low, which is represented by the 61.8% Fib retracement level. Near the $0.5250 level comes the next significant obstacle. If the price closes above $0.525, it can go in the direction of the $0.550 ceiling.
A significant rally toward the $0.585 resistance might be ignited by a good break above the $0.550 resistance level. If there are any further gains, the $0.600 resistance level may need to be tested.
Are Dips Limited in XRP?
Ripple may begin a downward reversal if it is unable to overcome the $0.515 resistance region. The $0.50 region and the trend line provide initial support on the downside.
ہماری پاکستان کے لیے خصوصی آفر میں ایک شاندار بونس سے فائدہ اٹھائیں:
✔️اپنے اگلے ڈپازٹ پر 100$ تک اضافی %100 پائیں
✔️29 ستمبر تک کسی بھی ڈپازٹ پر لاگو
✔️$5 جتنا کم ڈپازٹ بھی ڈبل ہو جائے گا!
محدود مدت کی پیشکش۔ اپنا اکاؤنٹ فنڈ کریں اور XM سے اپنا تحفہ حاصل کریں!
— XM_COM (@XM_COM) September 7, 2023
At $0.490, there is significant support next. The price of XRP may continue to decline if there is a downward break and a closing below the $0.490 level. In the aforementioned scenario, the price may revisit the $0.458 support region.
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