- The price of the ripple is traded in a range higher than the support area of $ 0.4300 compared to the US dollar.
- C & # 39; is a short-term contractual triangle formed with resistance close to $ 0.4560 on the hourly chart of the XRP / USD pair (data source from Kraken).
- The pair could accelerate gains once the resistance levels of $ 0.4600 and $ 0.4700 are broken in the short term.
The price summary is briefly consolidating in a range with respect to the US dollar and Bitcoin. The XRP / USD may explode once the current consolidation phase is over.
Ripple Price Resistances
In recent days, the price of Ripple was traded mostly above the $ 0.4300 level against the US dollar. The XRP / USD pair made some attempts to break resistance levels of $ 0.400 and $ 0.4700, but failed. At the moment, it is consolidating above the $ 0.4400 level and is likely to be preparing for the next move. A successful closing above the $ 0.4700 hurdle is necessary for ripple buyers to take control.
Initial resistance is close to the 50% Fiber retracement level of the last decline from $ 0.4690 high to $ 0.4437 low. It is also a short-term contractual triangle formed with resistance close to $ 0.4560 on the hourly chart of the XRP / USD pair. The resistance of the triangle at $ 0.4560 is positioned close to the 100-hour moving average. A break above this could push the price towards the resistance of $ 0.4700. Intermediate resistance is the Fib retracement level 76.4% of the last decline from $ 0.4690 high to $ 0.4437 low
Looking at the chart, the price can continue to trade in a range of less than $ 0.4700 for subsequent sessions. Above $ 0.4700, the price could accelerate above $ 0.5000 to $ 0.5500. On the downside, the price must remain above the support levels of $ 0.4400 and $ 0.4300 to avoid further declines
Looking at the technical indicators:
MACD schedule – The MACD for XRP / USD is not moving much in the bearish zone.
RSI Time (Relative Strength Index) – The RSI for XRP / USD is not reporting any major move.
Main Support Level – $ 0.4500
Main resistance level – $ 0.4700