• Ripple price started a downside correction from the $0.5250 zone against the US dollar.
• The price is now trading below $0.510 and the 55 simple moving average (4 hours).
• There was a break below a key bullish trend line with support at $0.5095 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
• The pair could start a fresh increase unless there is a close below $0.4850.

Ripple price is consolidating near $0.500 against the US Dollar, unlike Bitcoin. XRP price must stay above the $0.485 support to remain in a bullish zone.

Ripple Price Analysis

This past week, Ripple price saw a decent increase above the $0.4850 resistance against the US Dollar. The XRP/USD pair climbed above the $0.500 resistance to move into a positive zone.

The bulls even pumped the price above the $0.515 resistance. A high was formed near $0.5254 and the price recently corrected lower. There was a move below the $0.515 and $0.510 levels. The bears pushed the price below the 23.6% Fib retracement level of the upward move from the $0.4590 swing low to the $0.5254 high.

Besides, there was a break below a key bullish trend line with support at $0.5095 on the 4-hour chart of the XRP/USD pair. The price is now trading below $0.510 and the 55 simple moving average (4 hours).

It is trading above the 50% Fib retracement level of the upward move from the $0.4590 swing low to the $0.5254 high. On the upside, the price is facing resistance near $0.510.

The next major resistance is near the $0.5150 level. A close above the $0.5150 resistance zone might start a strong increase. In the stated case, the price could even surpass the $0.5250 resistance. Any more gains might send the price toward the $0.550 resistance.

Initial support on the downside is near the $0.492 level. The next major support is near the $0.485 level. Any more losses could lead the price toward the $0.465 level, below which the price might even test $0.450.

Looking at the chart, Ripple’s price is now trading below the $0.510 zone and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase unless there is a close below $0.4850.

Technical indicators

4 hours MACD – The MACD for XRP/USD is now losing momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is below the 50 level.

Key Support Levels – $0.4920, $0.4850, and $0.4650.

Key Resistance Levels – $0.5150 and $0.5250.

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• Source: https://www.livebitcoinnews.com/ripple-price-analysis-bulls-might-take-stand-near-0-485/