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- The ripple price tested key support close to $ 0.3600 and subsequently recovered against the US dollar.
- C & # 39; is a crucial breakout model that forms with resistance to $ 0.3680 on the hourly chart of the XRP / USD pair (data source from Kraken).
- The pair is likely to make the next move above $ 0.3700 or below $ 0.3580 in the short term.
The price of ripple has been corrected downwards compared to the main support against the US dollar and bitcoin. XRP / USD is preparing for the next move above $ 0.3700 or $ 0.3400.
Price analysis of undulations
Recently, the price of ripple has been corrected below the maximum of $ 0.3759 compared to the US dollar. The XRP / USD fell below support levels $ 0.3700 and $ 0.3680. The decline was such that the price moved below the support of $ 0.3600. However, buyers appeared near the key support of $ 0.3580 and protected more losses. More importantly, the 100-hour moving average, currently at $ 0.3600, also acted as a support.
The price is currently recovering above the $ 0.3620 level. It broke the 23.6% retracement level of Fibra's recent decline from $ 0.3759 to $ 0.3580 low. However, there are a lot of resistance near the levels of $ 0.3670, $ 0.3680 and $ 0.3700. The first hurdle is the 50% Fibra retracement level of the recent decline from $ 0.3759 high to $ 0.3580 lower to $ 0.3670. The main barrier is a crucial breakout model that forms with resistance to $ 0.3680 on the hourly chart of the XRP / USD pair. If there is a correct closing above the triangle and the resistance of $ 0.3680, the price could break the barrier by $ 0.3700. The last obstacle for buyers is close to the $ 0.3760 level, beyond which the price could test $ 0.3800.
Looking at the chart, the price of ripple will probably make the next move above $ 0.3700 or below $ 0.3580. If there is a bearish break below $ 0.3580, the price may fall to $ 0.3500. The next key support below $ 0.3500 is near the $ 0.3400 level.
Technical indicators
MACD schedule – The MACD for XRP / USD is slowly moving into the bullish zone, signaling a change in the trend.
RSI Time (Relative Strength Index) – The RSI for XRP / USD is currently positioned above level 50, at a positive angle.
Main support level: $ 0.3580
Main resistance level: $ 0.3680
