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The price of the ripple extended beyond the resistance from $ 0.3550 to $ 0.3800. The XRP remains in a solid upward trend and the downturns around $ 0.3500 will probably find strong bids.
- The price of ripple has gathered above the resistance levels of $ 0.3550, $ 0.3650 and $ 0.3800.
- A short-term linking upline line formed with support close to $ 0.3460 on the 30-minute chart.
- The XRP remains well supported near the levels of $ 0.3550, $ 0.3500 and $ 0.3460.
Price analysis of undulations
Yesterday we discussed the possibility of higher earnings over the resistance of $ 0.3550 in the ripple. There was a short-term downward correction from $ 0.3540, but later XRP buyers regained momentum and pushed the price above the resistance levels of $ 0.3550 and $ 0.3650.
Click to enlarge the chart
Looking at the 30-minute XRP / USD chart, the pair even rose above the $ 0.3800 level. A new weekly maximum was formed at $ 0.3904 and the price is currently trading well above the 25-minute (30-minute) moving average.
The price is currently running lower below $ 0.3800 and the Fib retracement level of 23.6% of the last leg from $ 0.3315 low to $ 0.3904 high. However, there are many media on the negative side, starting at the $ 0.3650 level.
The main support is close to the level of $ 0.3550 (the previous resistance and a & rd area of rotation) and the moving average to 25 simple (30 minutes). An intermediate support is close to $ 0.3615 and the 50% Fibra retracement level of the last stage from $ 0.3315 down to $ 0.3904 up.
Below $ 0.3500, there is an uptrend line that links short-term formed with support close to $ 0.3460 on the same chart. Therefore, if the price corrects lower than current levels, it could find support near the levels of $ 0.3550, $ 0.3500 and $ 0.3460.
On the upside, the levels of $ 0.3850 and $ 0.3900 are initial hurdles, beyond which the price should accelerate above the levels of $ 0.4000 and $ 0.4050.
Price action is very positive for the ripple as long as the XRP price is higher than the $ 0.3500 support. Likewise, bitcoin and Ethereum also remain in a positive zone above $ 3,600 and $ 100 respectively.
Market data is provided by TradingView, Bitfinex.
