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Ripple Price Prediction: XRP bulls to have a bumpy road ahead, $0.4910-30 guards immediate upside

  • XRP/USD takes the bids near intraday high, rises for fourth consecutive day.
  • Convergence of 200-bar SMA, two-week-old falling trend line tests the bulls.
  • A resistance line from February 13 adds to the upside filters.

Ripple buyers shouldn’t too optimistic as multiple hurdles are up for offering a bumpy road despite the latest four-day winning streak. That said, XRP/USD stays firm at around $0.4850 during early Wednesday.

The altcoin’s current run-up eyes a confluence of 200-bar SMA and a short-term resistance line around $0.4910-30.

However, any further upside seems less likely as MACD lacks courage. Even if the quote crosses the $0.4930 resistance, a downward sloping trend line from February 13, at $0.5320 now, will challenge the XRP/USD bulls.

On the contrary, pullback moves will be tested by a one-week-old rising support line, at $0.4650 now, a break of which could direct XRP/USD sellers toward another support trend line stretched from February 23, currently around $0.4385.

It should be noted that a clear downside past-$0.4385 will make the XRP/USD vulnerable to revisit the previous month’s low near $0.3660.

XRP/USD four-hour chart

Trend: Pullback expected

additional important levels

Overview
Today last price0.4843
Today Daily Change0.0102
Today Daily Change %2.15%
Today daily open0.4741
 
Trends
Daily SMA200.4792
Daily SMA500.4319
Daily SMA1000.4227
Daily SMA2000.3512
 
Levels
Previous Daily High0.4896
Previous Daily Low0.4552
Previous Weekly High0.4945
Previous Weekly Low0.3934
Previous Monthly High0.7565
Previous Monthly Low0.3406
Daily Fibonacci 38.2%0.4764
Daily Fibonacci 61.8%0.4683
Daily Pivot Point S10.4563
Daily Pivot Point S20.4386
Daily Pivot Point S30.422
Daily Pivot Point R10.4907
Daily Pivot Point R20.5073
Daily Pivot Point R30.5251

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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