The crypto-market is volatile and therefore, there are constant fluctuations in the price of the coins. Ripple is going through constant hurdles towards a major breakthrough. However, XRP price has managed to get past the $0.45 point.
The XR/USD pair has successfully crossed the $0.4600 point and is now trading at $0.4630. The downward correction started and the coin is trading at lower levels of $0.4500 and $0.4400. The price even depreciated lower than this level.
When the price reached $0.4169, the coin took a new start and the price surged above $0.4300. From the $0.4630 higher swing to the $0.4170 low swing there was a break above 23.6% Fib retracement level. The resistance is evident around $0.4400. The fifty percent (50%) Fib retracement is also around the level of $0.4400.
The chart depicts many downside support levels around $0.4300. For the XRP/USD pair, the chart shows rising channels around this support level.
Holding on this support level is crucial and if the pair fails to trade above this support point it would depreciate to the $0.4250. The downward support levels lie around $0.4200 and $0.4175.
The charts also show that the recovery is happening above the $0.4300 area. The bulls have to exert greater pressure at this point to cross the $0.4400 resistance. After crossing this point the price will gain positive momentum and the price can reach $0.4500 in the near future.
The technical indicator MCAD indicates that XRP/USD pair is moving towards the bullish area. The RSI is also showing positive angle for the pair. The major support levels are $0.4300, $0.4250, and $0.4200 and the minor resistance areas lie at $0.4400, $0.4450, and $0.4500.