RIPPLE PRICE ANALYSIS CMP-$0.4000: Bulls have loaded the weapon and are willing to shoot

Despite market volatility, XRP bulls appear to have 

Regained momentum, with Ripple's native coin reaching fresh highs.

Ripple is still trading well above the $0.35 support level against the US dollar. The XRP price appears to be aiming for a new rise towards the $0.45 level. Following a sharp drop, Ripple's XRP made a base above the $0.320 level versus the US dollar. The price began to rise steadily over the $0.335 and $0.340 barrier levels.

Price was pushed above the 23.6% Fib retracement line of the bearish move from the $0.5100 swing high to the $0.3160 swing low by the bulls. Furthermore, the XRP/USD pair broke above a major bearish trend line with resistance above $0.374 on the 4-hours chart.

On the 4-hours chart of the XRP/USD pair, XRP is about to break through the ascending triangle pattern. If the price successfully breaks over the barrier, it may easily rise towards the $0.430-$0.450 levels.

XRP is slowly going above the 100 SMA (4-hours) and outperforming both bitcoin and ethereum. The price is currently facing resistance at $0.400.

The first significant barrier is located at the $0.415 level. The 50% Fib retracement level of the decline from the $0.5100 swing high to the $0.3160 swing low is very close to the $0.415 level. If the price successfully breaks over the $0.415 barrier, it may move towards the $0.450 resistance. The next significant barrier is located at the $0.465 level. Any further rises might push the price towards $0.50 in the coming days.

If ripple fails to break over the $0.415 resistance level, it may begin to fall. The 100 simple moving average and the $0.380 level offer initial support on the downside (4-hours). The next significant support level is at $0.350. If the xrp price breaks down and closes below $0.350, it may prolong losses. In the aforementioned scenario, the price might possibly go below the $0.320 support.

According to Price Analysis, The market capitalization of this XRP is estimated to be $20,115,480,119. The 24-hour trading volume for the coin is around $1,326,048,798. XRP market capitalization has risen by 4.94%. However, trade volume increased by 25.76% during intraday trading.

KEY LEVELS :

RESISTANCE LEVEL : $0.4100-$0.4300

SUPPORT LEVEL : $0.3880-$0.3750

RIPPLE is preparing to break through the ascending triangle pattern on the daily chart. Will XRP be able to break through the long consolidation and reach $0.5? Have you bought XRP since the breakout?