Ripple Price Forecast: XRP/USD is Back in Uptrend

Ripple price fell sharply in March 2018 and it seems like a recovery has started from the $0.4550 low against the US Dollar. XRP price is now back in an uptrend and is poised for more gains.

After a sharp decline from well above the $1.20 level, ripple price found a strong buying interest near the $0.4550 low (as per coinmarketcap). Other cryptocurrencies such as bitcoin and Ethereum are also showing positive signs.

Ripple Price Forecast Takeaways:

• Ripple price is showing many bullish signs after forming a low near $0.4550.
• XRP to USD broke a major bearish trend line with resistance at $0.5000 on the 4-hours chart.
• The pair may continue to rise towards the $0.6000 and $0.8000 levels in the near term.

As mentioned, there was a major bottom formed near the $0.4550 level. Ripple price started a solid recovery after consolidating for a brief period below the $0.5000 level.

Recently, the price spiked higher and cleared the 23.6% Fib retracement level of the last drop from the $0.7250 swing high to 0.4550 low. More importantly, there was a close above the $0.4800 resistance and the 150 simple moving average (orange) (data feed via bitfinex).

Finally, XRP buyers succeeded in clearing a major bearish trend line with resistance at $0.5000 on the 4-hours chart. These all are positive signs and suggests more gains above $0.6000 in the near term.

XRP to USD is Back in Uptrend

It seems like a new uptrend is forming and xrp to usd could rise in the near term. At the moment, the price is testing the 38.2% Fib retracement level of the last drop from the $0.7250 swing high to 0.4550 low.

However, the best thing is the fact that the price is above the 100 simple moving average (green, 4-hours) and $0.5000. Therefore, once there is a break above the $0.5500 level, there could be an upside extension.

The next hurdle for buyers is near the 50% Fib retracement level of the last drop from the $0.7250 swing high to 0.4550 low at $0.5901. A successful close above the $0.6000 may perhaps confirm a change in the trend to bullish.

The next major hurdles on the upside for ripple buyers is near $0.8000 and $0.8800. The overall market sentiment improved recently since a few other cryptocurrencies such as VeChain, ETH, Neo, Steem, Ontology, EOS, Bitcoin cash, WAN, Nano and XLM posted solid gains.

To sum up, there are many positive signs, which could lift ripple price higher above $0.6000 in the near term.