Ripple price analysis: XRP/USD could soon blast through $0.47 resistance

Ripple has shown resilience over the past four weeks breaking barriers to the upside.
The MACD divergence shows that the buyers will continue to gain traction in the short-term.

John Isige FXStreet

Ripple is trading in the green on Thursday. The gains come after the digital asset found support at $0.42 amid the rising volatility in the cryptocurrency market. Ripple has shown resilience over the past four weeks breaking barriers to the upside. The short-term target is set at $0.50, however. $0.47 is a key seller congestion zone.

A glance at the chart, we see the price sustaining an uptrend above the ascending trendline. Similarly, the up trending market has stayed above the 100 Simple Moving Average (SMA) for the past three days. Meanwhile, XRP/USD is dancing with $0.46 while fighting to break above the first resistance at $0.47. A correction above this critical level will come face to face with the resistance at $0.50.

For now, the prevailing trend is bullish in addition to the building upward momentum. Supporting the momentum is the Moving Average Convergence Divergence (MACD) at +0.0057. The increasing divergence shows that the buyers will continue to gain traction in the short-term. This also means that a correction above $0.47 is likely with $0.50 being a short-term target.

XRP/USD 1-hour chart

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

Sui extends sideways action ahead of Grayscale’s GSUI ETF launch

Sui is extending its downtrend for the second consecutive day, trading at 0.95 at the time of writing on Wednesday. The Layer-1 token is down over 16% in February and approximately 34% from the start of the year, aligning with the overall bearish sentiment across the crypto market.