- Ripple price remained in a positive zone and traded higher from $0.3860 against the US dollar.
- The price is now trading well above the $0.4000 level and it could continue to rise in the near term.
- Yesterday’s highlighted major bullish trend line is intact with support near $0.4010 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The price is likely to break the last swing high near $0.4108 and it could even surge above $0.4200.
Ripple price is gaining bullish momentum above $0.4000 against the US Dollar, while bitcoin is surging above $12,500. XRP price might soon break the $0.4100 and $0.4200 resistances.
Ripple Price Analysis
Recently, bitcoin price started a strong rally and broke the $12,000 and $12,500 resistance levels. Ripple price also remained in a positive zone and it started a decent rise after forming a swing low near $0.3860. There was a steady rise above the $0.3920 and $0.3950 resistance levels. Moreover, the price broke the 50% Fib retracement level of the last slide from the $0.4110 swing high to $0.3860 low.
The price is now trading well above the $0.4000 level and the 100 hourly simple moving average. More importantly, yesterday’s highlighted major bullish trend line is intact with support near $0.4010 on the hourly chart of the XRP/USD pair. The pair is trading near the 76.4% Fib retracement level of the last slide from the $0.4110 swing high to $0.3860 low.