Ripple Price Analysis: XRP/USD Eyeing Upside Break above $0.4650



Key Highlights Ripple price found support near the $0.4300 level and recovered a few points against the US dollar. There was a break above major connecting bearish trend line with resistance at $0.4500 on the hourly chart of the XRP/USD pair (data source from Kraken). 
The pair is currently attempting an upside break above $0.4620 the 100 hourly simple moving average. 
Ripple price is trading with a positive bias against the US Dollar and Bitcoin. XRP/USD must break $0.4620 and $0.4650 to accelerate higher in the near term. 
Ripple Price Resistance This past week, there was a sharp decline in Ripple price from well above the $0.5000 level against the US Dollar. '




The XRP/USD pair declined and cleared the $0.4600 and $0.4500 support levels. There was also a close below the $0.4500 level and the 100 hourly simple moving average. 
The price traded as low as $0.4292 before buyers took a stand and protected more losses. 
Later, the price started an upside move and traded above the $0.4400 level. There was also a break above a major connecting bearish trend line with resistance at $0.4500 on the hourly chart of the XRP/USD pair. 
The pair moved above the 23.6% Fib retracement level of the last decline from the $0.5204 high to $0.4292 low. However, the pair faced a strong resistance near $0.4620 and the 100 hourly SMA. Moreover, the 38.2% Fib retracement level of the last decline from the $0.5204 high to $0.4292 low also prevented upsides.








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