Price analysis of ripples: the XRP / USD Rally seems real, next target $ 0.52


Main highlights

  • The price of the waves rose sharply and broke the resistance from $ 0.4000 and $ 0.4600 against the US dollar
  • C & # 39 was a break over a key triangle with resistance to $ 0.3350 on the hourly chart of the XRP / USD pair (data source from Kraken).
  • The pair is consolidating gains above support levels of $ 0.4400 and $ 0.400 with positive signals.

The price of ripple overcame many obstacles against the US dollar and Bitcoin. The XRP / USD is in a clear upward trend above the pivot level of $ 0.4000.

Price analysis of undulations

The latest sessions were very bullish for the price of the ripple from the low of $ 0.2650 against the US dollar. The pair XRP / USD started a sharp rise and broke many resistances close to $ 0.3000. There was an interruption above the resistance zone of $ 0.2860 and the simple moving average at 100 hours. He clarified the path for buyers to take control above the $ 0.3000 level.

In addition, there was a break above a key contracting triangle with resistance at $ 0.3350 on the hourly chart of the XRP / USD pair. It opened its doors to a solid upside and the price rose more than 30% above $ 0.4000. The price is trading at $ 0.4913 and is consolidating gains. It was corrected below the fiber retracement level of 23.6% of the last wave, from $ 0.3118 down to $ 0.4913 in height. If there is an important downward correction, the levels of $ 0.4100 and $ 0.400 could serve as support. In addition, the fiber retracement level of 50% of the last wave from $ 0.3118 down to $ 0.4913 is close to $ 0.4012. Therefore, the dive remains supported near $ 0.4100.

 XRP undulation price analysis Chart USD

Looking at the chart, the price of ripple is following a solid uptrend and could rise to over $ 0.4913 in the short term. A boost above the $ 0.5000 level could open the door to higher earnings over $ 0.5200.

Looking at the technical indicators:

MACD schedule – The MACD for XRP / USD is now in the bullish zone.

RSI Time (Relative Strength Index) – The RSI for XRP / USD is well above the 60 level.

Major Support Level – $ 0.4100

Major Resistance Level – $ 0.5000

[ad_2]Source link