Ripple technical analysis: Can XRP/USD stay above $0.40?

XRP/USD has broken above the psychological $0.40 mark, gaining support above several important technical levels.
Bollinger bands and MACD oscillator indicate increasing volatility and bullish momentum in Ripple.

XRP/USD daily chart

XRP/USD went up from $0.393 to $0.402 throughout this Wednesday. In the early hours of Thursday, the price of XRP/USD went up further to $0.408. The price has gained support on the upward trending line. Immediate resistance lies at $0.41.

The daily XRP/USD is trending below the 20-day simple moving average (SMA 20) curve and above the SMA 200 and SMA 50 curves. The Elliot oscillator has now gone into the negative zone following 13 straight bearish sessions.

XRP/USD 4-hour chart

The latest session of the 4-hour XRP/USD price has gone above the upper curve of the 20-day Bollinger band, indicating that the price is overvalued. The five latest sessions are trending above the SMA 20 curve.

The widening of the Bollinger jaw shows increasing market volatility. The signal line is diverging away from the moving average convergence/divergence (MACD) line, indicating increasing bullish momentum.

XRP/USD hourly chart

The hourly XRP/USD was trending in a downward channel formation before the bulls took the price up from $0.399 to $0.408 within three hours.

The price was trending in the green Ichimoku cloud before the price had a bullish breakout. The relative strength index (RSI) indicator has crept into the overbought zone and is trending at 71.

Key Levels

XRP/USD

Overview
Today last price	0.4089
Today Daily Change	0.0061
Today Daily Change %	1.51
Today daily open	0.4028

Trends
Daily SMA20	0.4143
Daily SMA50	0.3677
Daily SMA100	0.3459
Daily SMA200	0.3388

Levels
Previous Daily High	0.4041
Previous Daily Low	0.3889
Previous Weekly High	0.4646
Previous Weekly Low	0.3839
Previous Monthly High	0.4741
Previous Monthly Low	0.2917
Daily Fibonacci 38.2%	0.3983
Daily Fibonacci 61.8%	0.3947
Daily Pivot Point S1	0.3931
Daily Pivot Point S2	0.3834
Daily Pivot Point S3	0.3779
Daily Pivot Point R1	0.4084
Daily Pivot Point R2	0.4139
Daily Pivot Point R3	0.4236

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