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Main highlights
- The price of the waves has recovered well and has moved above the resistance area of $ 0.2750 compared to the US dollar.
- This week's downtrend line is preventing gains with resistance near the $ 0.2900 level on the hourly chart of the XRP / USD pair (source data from Kraken).
- The pair could possibly break the resistance area from $ 0.2900 to 0.3000 for further gains in the short term.
The ripple price was corrected higher than the US dollar and Bitcoin. The XRP / USD is currently attempting a break up above the resistance zone $ 0.2900-0.3000.
Resistance to the price of undulations
There was a decent support base near the $ 0.2465 level in Ripple's price against the US dollar. The XRP / USD pair started a bullish correction and exceeded the resistance levels of $ 0.2750 and $ 0.2800. The buyers even managed to push the price above the resistance by $ 0.2810. Furthermore, there was a break above the 50% fiber retracement level of the last big drop from $ 0.3151 upwards to $ 0.2467 below.
However, the price is currently facing tough resistance near the $ 0.2900 level and the simple 100-hour moving average. In addition, this week's crucial downtrend line is preventing gains with resistance near the $ 0.2900 level on the hourly chart of the XRP / USD pair. The 61.8% Fib retracement level of the last major decline from the low of $ 0.3151 to $ 0.2467 is also close to $ 0.2900. Therefore, a break and close above $ 0.2900-0.3000 will not be easy in the short term. If ripple buyers manage to push the price above $ 0.3000, there may be higher rises to $ 0.3200 in the short term
Looking at the chart , the price of the undulations is traded with a reasonable uptrend from the low of $ 0.2467. However, a break above the $ 0.3000 barrier is mandatory for buyers to gain control. On the downside, supports are close to $ 0.2750 and $ 0.2600.
Looking at the technical indicators:
MACD timetable – The MACD for XRP / USD is showing positive signs in the bullish zone.
RSI Time (Relative Strength Index) – The RSI for XRP / USD is now well above the 60 level.
Major Support Level – $ 0.2600 [19659008] Main resistance level – $ 0.3000
