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Main highlights
- The price of ripple rose higher recently and broke the resistance level of $ 0.3200 against the US dollar.
- C & # 39; is an important contractual triangle in place with resistance to $ 0.3300 on the hourly chart of the XRP / USD pair (data source from Kraken).
- The pair may correct some points, but remains supported above the $ 0.3100 level.
The price of the ripple is traded with an uptrend with respect to the US dollar and Bitcoin. The XRP / USD must earn over $ 0.3350 for a boost to the $ 0.3500 level.
Ripple Price Rise
Yesterday, we saw a solid rise above the $ 0.3000 level in Ripple's price against the US dollar. The XRP / USD pair remained in a strong trend and broke levels of $ 0.3200 and $ 0.3250. It traded towards the $ 0.3350 level and was subsequently corrected downwards. It moved below the fiber retracement level of 23.6% of the move up, from $ 0.2658 down to $ 0.3358 up.
However, the price found strong support around the $ 0.3100 level and rebounded. There appears to be an important contractual triangle with resistance at $ 0.3300 on the hourly chart of the XRP / USD pair. There is a possibility that the price may reduce some points towards $ 0.3150 or $ 0.3100. Below these, the price could test the $ 0.3000 support zone. Represents the 50% retracement level of the upward movement from the low of $ 0.2658 to $ 0.3358 high. As long as the price exceeds the support of $ 0.3000, it remains a good bid for further gains in the short term.
Looking at the chart, the price of ripple could continue to operate in a range above $ 0.3000. Finally, it will most likely make an attempt to overcome resistance levels of $ 0.3350 and $ 0.3400. The next major obstacle for buyers is near the $ 0.3500 level.
Looking at the technical indicators:
MACD timetable – The MACD for XRP / USD is going to go back in the bullish zone.
RSI Time (Relative Strength Index) – The RSI for XRP / USD is currently above level 50.
Major Support Level – $ 0.3150 [19659008] Main resistance level – $ 0,3300
