Ripple Price Analysis: BTC Crossing $10K Helps XRP/USD Price to Jump 6%
- Ripple sharply rises above $0.4500, clears key resistance at $0.449
- XRP approaches stability above $0.45, while seems to have strong support near $0.43 and $0.44
- XRP is likely to see the higher price rise, as it is heading towards $0.46
Ripple price, at present, is bullishly trading higher against the US Dollar, as it has traced notable price surges only in the last few hours today. However, against Bitcoin, XRP has shown a further decline in almost the same time frame.
Having its opening price at $0.4298, XRP had increased above $0.4300 and it had maintained its price range between $0.4301 to $0.4495 yesterday. It is today when Ripple price has crossed a major price barrier at $0.449 and reached $0.4557 price mark.
Ripple 1-Day Price Chart:
After hovering a bit around $0.4500, XRP corrected downwards at $0.4478. Tracing a price recovery, XRP again went above $0.4500 and is currently trading at $0.4570, at 06:51:12 UTC. At present, XRP is trading upwards to set a new monthly high price above $0.4600. In the last 24 hours, XRP has shown an increase of 6.00%.
The ripple price trend is giving positive signs as its current price is pretty high as compared to its price scenario in the last one month. The current price of $0.4570 is 9.48% higher than the SMA of the last 30 days that is $0.4174.
It is notable how the price point of $0.45, which was considered as a major resistance level until yesterday, is likely to turn into a support level if Ripple price surges higher. XRP price needs to break the price barrier near $0.46, in order to strike a solid upward move.
Technical Indicators:
The MACD chart for XRP/USD appears moderately volatile while it indicates bullishness in the price trend as the MACD line moves above the signal line. Also, the RSI for XRP stands at 50, pointing out to the stability that the cryptocurrency holds at this point of time. If XRP price rallies further, it may see resistance at $0.4666, though if it tumbles down, it will see support levels at $0.433, $0.4229 and $0.4162.
