The bulls are on a mission, with their sights set on $0.40 | XRP Price

XRP's price is steadily increasing toward

 the $0.370 psychological level. The reaction once there might decide the direction of the next trend.

XRP is attempting to break out over the $0.370 resistance level against the dollar. If the XRP price remains above the $0.3720 barrier, it may gain momentum around $0.4000.

Following a significant drop, XRP found support at $0.3000 versus the US dollar. Before beginning a rebound wave, the price formed a base above $0.3050. Above the $0.3250 and $0.3300 resistance levels, there was a significant gain. Furthermore, the XRP/USD pair broke above a critical bearish trend line with resistance above $0.3495 on the 4-hours chart. The rising trend accelerated over the $0.350 level.

The price is currently above the 76.4% Fib retracement level of the major decline from the $0.3727 swing high to the $0.3009 low. It is also trading above $0.350 and the 100 hourly simple moving average, outperforming bitcoin and ethereum.

Near the $0.372 level, there is immediate resistance. The next significant resistance is at $0.390. It is close to the 1.236 Fib extension level of the major decline from the $0.3727 swing high to the $0.3009 low. If the price successfully breaks over the $0.390 barrier, it may move towards the $0.400 resistance. Any further rises might push the price up to $0.432 in the following days.

If ripple fails to break through the $0.372 resistance level, it may begin a downward trend. On the downside, an initial support level is at $0.355. The 100 hourly simple moving average and $0.350 are the next key supports. 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 $0.325 support.

KEY LEVELS :

RESISTANCE LEVEL : $0.3720-$0.3900

SUPPORT LEVEL : $0.3550-$0.3400

After a period of peace, the storm begins. Will the bulls continue its rally and break over the lengthy parallel channel obstacles to reach $0.400 in the near term? Please leave your thoughts in the box below.