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Key Points
- The price of ripple broke resistance levels of $ 0.3250 and $ 0.3300 to enter a bullish zone against the US dollar.
- C & # 39; is a bullish trend line formed with support at $ 0.3260 on the hourly chart of the XRP / USD pair (source data from Kraken).
- The pair formed an intraday high at $ 0.3436 and is currently running lower towards $ 0.3320.
The price of the ripple is positioned well in a bullish zone compared to the US dollar and Bitcoin. The XRP / USD dives remain supported around the levels of $ 0.3320 and $ 0.3300 in the short term.
Ripple price trend
Yesterday we discussed that the price of Ripple could test the resistance of $ 0.3400 against the US dollar. The XRP / USD was traded higher, broke the resistance level by $ 0.3300 and tested the $ 0.3400 level. There was a close above the $ 0.3300 support and the 100-hour moving average. The price was trading at $ 0.3436 and subsequently started a downward correction
It is currently trading close to the Fib retracement level of 23.6% from the recent rise from $ 0.3191 to $ 0.3436. On the downside, there are many support levels near $ 0.3300 and $ 0.3320. The declared level of $ 0.3320 was a previous resistance, and could now act as support above $ 0.3300. In addition, Fibra's 50% retracement level of the recent rise from the low of $ 0.3191 to $ 0.3436 is $ 0.3313. Further down, there is an uptrend line that links up to $ 0.3260 on the hourly chart of the XRP / USD pair. Therefore, if the price continues to fall, it is likely that you will find strong offers around $ 0.3300.
Looking at the chart, the price of the ripple rose to a positive area value above $ 0.3300. On the upside, a close above $ 0.3400 and $ 0.3450 levels could clarify the path for a push above $ 0.3500.
Looking at the technical indicators:
MACD timetable – The MACD for XRP / USD is well positioned in the bullish zone.
RSI time (relative strength index) – The RSI for XRP / USD is lowering from 75 to 60.
Major Support Level – $ 0.3300
Major Resistance Level – $ 0.3450
