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Key points
- The price of ripple has recently tested the resistance of $ 0.400 in which sellers have emerged against the US dollar.
- There is a confident trend line that is forming with support close to $ 0.400 on the hourly chart of the XRP / USD pair (data source from Kraken).
- The pair could perhaps continue to find buyers close to the $ 0.4500 and $ 0.4450 levels in the short term.
The price of the ripple is traded in a positive zone compared to the US dollar and Bitcoin. XRP / USD remains buy on dips near support levels $ 0.4450 and $ 0.4400.
Price analysis of undulations
After trading at just $ 0.4478 recently, the ripple price has started to corrode upwards against the US dollar. The XRP / USD pair has exceeded the resistance levels of $ 0.4500 and $ 0.4550. There was a decent break above the Fib 23.6% retracement level of the recent decline from the low of $ 0.4740 to $ 0.4478 low. However, the price failed to break the key resistance area close to $ 0.4600.
In addition, the price failed to cancel the Fibra 50% retracement level of the recent decline from $ 0.4740 upwards to $ 0.4478 below. The price retreated from the resistance of $ 0.400 and traded below the $ 0.4550 level. At the moment, the price is testing the $ 0.4520 level and the 100-hour simple moving average. More importantly, there is an uptrend line that is forming with support close to $ 0.400 on the hourly chart of the XRP / USD pair. If the pair falls from current levels, it is likely to find offers near the $ 0.4500 and $ 0.4450 levels in the short term. Below $ 0.4450, the next support awaits about $ 0.4410.
Looking at the chart, the ripple price is trading well in a positive zone above the $ 0.4400 rotation level. Once there is a break above the resistance of $ 0.4600, the price could rise back to levels of $ 0.4740 and $ 0.4800.
Looking at the technical indicators:
MACD schedule – The MACD for XRP / USD is slowly moving into the bearish zone.
Now RSI (Relative Strength Index) – The RSI for XRP / USD is currently just below level 50.
Main support level: $ 0.4450
Main resistance level – $ 0.4600
