Ripple Price Analysis: Can XRP/USD Bounce Back?

Key Points
Ripple price declined a few points after trading as high as $0.4877 in the US dollar.
There is a key bullish trend line forming with support at $0.4680 on the hourly chart of the XRP/USD .

The may dips a few more points, but it remains above on the $0.4650 level.
Ripple price is placed in a bullish zone against the US Dollar and Bitcoin. XRP/USD must break the $0.4800 and $0.4860 resistances to trade further higher.

Ripple Price Support
During the past 2-3 days, there were decent bullish moves above $0.4600 in Ripple price against the US Dollar. The XRP/USD pair traded above the $0.4750 and $0.4800 resistance levels. A high was formed at $0.4877 before the price started a downside move. It declined and broke the 23.6% Fib retracement level of the last wave from the $0.4629 low to $0.4877 high.

Ripple Price Analysis XRP/USD

Looking at the chart, the price is placed in a bullish zone above $0.4700. On the upside, a break above the $0.4800 and $0.4850 resistance levels may perhaps clear the path for more gains.

Looking at the indicators:

Hourly MACD – The MACD for XRP/USD is currently in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently just above the 40 level.

Major Support Level – $0.4700

Major Resistance Level – $0.4850

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