-Bitcoin news, price, information & analysis Ripple price is showing a few positive signs against the US Dollar and Bitcoin. XRP/USD could correct further higher as long as it is above $0.4800.
There was a decent upside move started from the $0.4485 swing low in Ripple price against the US Dollar. The price traded higher and succeeded in trading above the $0.4750 resistance.
Moreover, there was a break above the 23.6% Fib retracement level of the last downside move from the $0.5491 high to $0.4487 low. These are positive signs above the $0.4750 level.
More importantly, there was a break above yesterday’s highlighted crucial bearish trend line with resistance at $0.4880 on the hourly chart of the XRP/USD pair. The pair also succeeded in settling above the $0.4800 level and the 100 hourly simple moving average.
At the moment, the price is trading just above the 50% Fib retracement level of the last downside move from the $0.5491 high to $0.4487 low. It may continue to rise towards the $0.5100 and $0.5180 resistance levels if the price gains traction. Read more from newsbtc.com…
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