Price analysis of undulations: XRP / USD could soon be rallying

  ripple "title =" ripple

  Bitcasino

The price of the ripple holds a strong support close to $ 0.3320 compared to the US dollar. The XRP / USD should soon make a move upward towards the resistance zone by $ 0.3550.

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Take away key

  • The price of the ripple has dropped recently, but has remained above the support of $ 0.3320.
  • XRP / USD is selling well above a monstrous uptrend line with support at $ 0.3340 on the 4-hour chart.
  • The XRP price will probably rise higher in the near term towards the resistances of $ 0.3500 and $ 0.3550.

Price analysis of the ripples

from the resistance of $ 0.3550, the price of ripple dropped sharply against the US dollar. XRP / USD broke the support zone by $ 0.3420 and traded towards the next support at $ 0.3300-0.3320.

The 4-hour chart indicates that the price found strong support above the $ 0.3000 level and the 100 simple average shift (4 hours). Low was formed at $ 0.3301 and the price slowly recovered.

  Ripple "width =" 1828 "height =" 848 "srcset =" https://static.coingape.com/wp-content/uploads/2018/09/ 04182454 / Ripple-price-XRP-chart-4- sept.png 1828w, https://static.coingape.com/wp-content/uploads/2018/09/04182454/Ripple-price-XRP-chart-4-sept -300x139.png 300w, https: // static. coingape.com/wp-content/uploads/2018/09/04182454/Ripple-price-XRP-chart-4-sept-768x356.png 768w, https: // static .coingape.com / wp-content / uploads / 2018 / 09/04182454 / Ripple-price-XRP-chart-4-sept-1024x475.png 1024w "sizes =" (maximum width: 1828px) 100vw, 1828px
Graph derived from TradingView, Binance.

More importantly, the price is pleasantly traded above a bullish uptrend monster line with support at $ 0.3340 on the same chart. Clearly, both the trend line and the 100 SMA (4 hours) are showing declines lower than $ 0.3220 in XRP / USD.

The pair recovered above the Fibonacci retracement level of 23.6% from the last decline from $ 0.3555 upwards to $ 0.3301 below. The last two 4-hour candles suggest a positive price action above the $ 0.3350 level.

The next resistance for ripple buyers is the 50% Fibonacci retracement level of the last drop from $ 0.3555 down to $ 0.3301 down to $ 0.3428. Above this, the price is set to rise to the very important resistance area of ​​$ 0.3550.

Finally, a break above the $ 0.3550 barrier could open the door to further gains of $ 0.3800 and $ 0.3950 in the near term. On the other hand, if the price falls below the trend line and settles below the $ 0.3300 level, it may be subject to much selling pressure. The next key support is $ 0.3250 and $ 0.3220.

Overall, the ripple price is trading above the solid support of $ 0.3300 and as long as it maintains declared support, buyers will likely take control for a drag towards the resistance of $ 0.3550. [19659021] In addition, read: Ripple accelerates network expansion and XRP adoption indicating that price could go higher

Summary

  Undulation price analysis: XRP / USD may soon rally

Article name

Corrugation price analysis: XRP / USD May soon Rally

Description

The price of the ripple has a strong support close to $ 0.3320 compared to the US dollar. The XRP / USD should soon make an upward move to the resistance zone by $ 0.3550.

Author

LATIKA MEHROTRA

Name publisher

COINGAPE

Logo publisher

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