Ripple (XRP) Price Analysis April 28: Could Start a New Uptrend, What Are The Significant Levels?

Ripple started a new surge after testing $ 1.00 against the US Dollar, according to the price analysis conducted on April 28. XRP price will likely rise further if it clears the $ 1.45 and $ 1.46 resistance levels. According to the technical analysis of NewsBTC’s Aayush Jindal:

  • Ripple is showing positive signals above the $ 1.25 and $ 1.30 resistance levels against the US Dollar.
  • The price is currently trading above $ 1,3200 and is testing the 100 simple moving average (4 hours).
  • There was a break above a major bearish trend line with resistance near $ 1.15 on the 4-hour chart of the XRP / USD pair (based on Kraken data).
  • The pair could start another rally if it clears the $ 1.45 resistance zone.

Ripple’s (XRP) Eye Is On Higher Levels

Last week, Ripple’s XRP found strong buying interest near the $ 1.00 zone. XRP created a support base above $ 1.00 and started a new surge similar to Bitcoin and Ethereum .

The price overcame several key hurdles near the $ 1.10 level. There was a break above a major bearish trend line with resistance near $ 1.15 on the 4-hours chart of the XRP / USD pair. The pair cleared the 23.6% Fib retracement level of the move from $ 1.97 to $ 0.94.

It is currently trading above $ 1,3200 and is testing the 100 simple moving average (4 hours).

The 50% Fib retracement level of the downward move from $ 1.94 to $ 0.94 is acting as a major hurdle. If the bulls manage to cross the $ 1.45 and $ 1.46 resistance levels, there could be a strong increase. In this case, the price could even go above the $ 1.60 and $ 1.65 levels.

Will Ripple (XRP) Fall?

If Ripple fails to cross the $ 1.45 resistance or $ 1.46, it could experience more corrections. Initial support on the downside is near the $ 1.3200 level.

The next major support is near the $ 1.30 level. If there is a downward break and closes below the $ 1.30 level, the price could drop in the short term. In the scenario mentioned, the price is likely to drop towards the $ 1.15 support zone in the coming sessions.

Technical Indicators

  • 4-Hour MACD – The MACD for XRP / USD is slowly gaining momentum in the bullish zone.
  • 4-Hour RSI (Relative Strength Index) – The RSI for XRP / USD is currently above the 50 level.
  • Major Support Levels – $ 1.32, 1.30 and $ 1.15.
  • Major Resistance Levels – $ 1.45,1.46 and $ 1.65.

Note: We shared the Ripple price analysis on April 28 with you. The information, comments and evaluations contained herein are NOT covered by Investment Consultancy. Keep following the SinceCoin.

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