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Price analysis of corrugations: probable XRP preparation for the next round

  • The price of the ripple is trading in a narrow range above the support levels of $ 0.3240 and $ 0.3200 against the US dollar.
  • C & # 39; is an important contractual triangle formed with resistance to $ 0.3290 on the hourly chart of the XRP / USD pair (data source from Kraken).
  • The pair is likely to make the next move above $ 0.3300 or below $ 0.3200 in the short term.

The price ripple is getting ready for the next major move against the US dollar and Bitcoin. The XRP / USD could exceed $ 0.3300 as long as it is above the support area of ​​$ 0.3160.

Price analysis of undulations

During the last hours, there have been above all oscillations above the value of $ 0.3160 ​​in ripple compared to the US dollar. The XRP / USD pair traded a few points above the resistance levels of $ 0.3280 and $ 0.3300. However, there was not a big upward move and the price rose near the $ 0.3340 level. Subsequently, there was a bearish move and the price fell below the support of $ 0.3260. There was also a break below the $ 0.3220 support and the 100-hour simple moving average.

Low was formed at $ 0.3208 and subsequently the highest correct price. Recently it broke Fibra's 50% retracement level of the recent decline from the low of $ 0.3341 to $ 0.3208 below. However, the upward move was limited by the levels of $ 0.3280 and $ 0.3290. In addition, the price failed to cancel the Fibra 61.8% retracement level of the recent decline from the low of $ 0.3341 to $ 0.3208 below. In the beginning, there is an important contractual triangle formed with resistance to $ 0.3290 on the hourly chart of the XRP / USD pair. A positive close above the resistance levels of $ 0.3290 and $ 0.3300 may clarify the path for further gains. The next major resistance is at $ 0.3380, above which the price could test $ 0.3600.

XRP chart of ripple price analysis

Looking at the chart, the ripple price is clearly preparing for the next break above $ 0.3300 or below $ 0.3200. As long as XRP is above $ 0.3160, there is a high probability of a break above $ 0.3300.

Technical indicators

MACD timetable – The MACD for XRP / USD is currently flat, with no bullish signal.

Now RSI (Relative Strength Index) – The RSI for XRP / USD is flirting with level 50, with some bearish signals.

Main support level: $ 0.3160

Main resistance level: $ 0.3300

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