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Key points
- The price of the ripple has risen strongly and has exceeded the resistance of $ 0.3000 compared to the US dollar
- C & # 39; is a short-term contractual triangle that form with resistance at $ 0.3260 on the hourly chart of the XRP / USD pair (data source from Kraken).
- The pair is likely to make the next move above the levels of $ 0.3250 and $ 0.3300 in the short term.
The price of the ripple is positioned well in a bullish zone compared to the US dollar and Bitcoin. The XRP / USD is triggered for further gains above the $ 0.3300 level if buyers remain in stock.
Ripple price trend
After reaching a level close to the $ 0.2500 level, the price of Ripple rose higher than the US dollar. The XRP / USD broke a lot of resistance going up to $ 0.2800 and $ 0.3000. The best part was a close above the $ 0.3000 level and a 100-hour simple moving average. The buyers were able to push the price above the levels of $ 0.3200 and $ 0.3300. A maximum was formed at $ 0.3350 before the price began a downward correction
It corrected below the fiber retracement level of 23.6% of the last wave, from $ 0.2666 in low at $ 0.3356 at the top. However, losses were limited as buyers appeared above the $ 0.3000 support zone. The price tested the $ 0.3100 level and subsequently began trading in a range. More importantly, there is a short-term contractual triangle formed with resistance at $ 0.3260 on the hourly chart of the XRP / USD pair. If there is a bearish break below the $ 0.3100 level, the price could test the 50% retracement level of the last wave's fibers, from $ 0.2666 down to $ 0, 3356 above. Conversely, an upside break above $ 0.3260 will most likely require further gains.
Looking at the chart, the price of the ripple is positioned well above $ 0.3100 and looks like it may soon move $ 0.3300 in the short term.
Looking at the technical indicators:
MACD timetable – The MACD for XRP / USD is slightly in the bearish zone. [19659008] RSI Time (Relative Strength Index) – The RSI for XRP / USD is placed above level 60.
Major Support Level – $ 0.3100
Major Resistance Level – $ 0,3300
