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Key Issues
- The price of ripple has again maintained the support of $ 0.4270 and continued to beat the US dollar
- C & # 39; was a break above a bearish trend line with resistance at $ 0.4300 on the hourly chart of the RP / USD pair (data source from Kraken).
- The pair has rebounded recently, but is struggling to cancel the resistance level of $ 0.4420.
The price of ripple is holding key supports against the US dollar and Bitcoin. It is likely that the XRP / USD will recover further until it is higher than $ 0.4270.
Support for price ripple
There was a slow and steady decline towards $ 0.43 in Ripple's price against the US dollar. The XRP / USD retested the $ 0.4270 support area, which was a significant obstacle for sellers. There was a downside break below $ 0.4270, which is a positive sign. The price rebounded and moved above the 23.6% Fib retracement level of the last decline from the low of $ 0.400 to $ 0.4260 minimum.
The current price action is positive above the $ 0.43 level. More importantly, there was a break above a bearish link trend line with resistance at $ 0.4300 on the hourly chart of the XRP / USD pair. The pair traded above the $ 0.4400 level, but struggled to clear the $ 0.4420 level. Furthermore, the 50% fiber retracement level of the last decline from the low of $ 0.400 to $ 0.4260 acted as resistance. At the moment, the price is lowering, but it could find support near $ 0.4350 and $ 0.4320.
Looking at the chart, the price keeps the swing support $ 0.4270 excellent. Therefore, as long as the declared support of $ 0.4270 is intact, the ripple is likely to slowly recover above $ 0.4450. The next upward key resistances are at $ 0.4600 and $ 0.4720 where sellers may emerge.
Looking at the technical indicators:
MACD timetable – MACD for XRP / USD moves in the bullish zone.
RSI Time (Relative Strength Index) – The RSI for XRP / USD has risen above the 50 level, suggesting a positive bias.
Main support level – $ 0.4270
Main resistance level – $ 0.4420
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