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Price ripple analysis: XRP / USD could extend gains towards $ 0.30

Main highlights

  • The price of ripple is slowly increasing and has recently broken resistance of $ 0.2720 against the US dollar
  • C & # 39; has been a break above a bearish trend line with resistance at $ 0.2675 on the hourly chart of the XRP / USD pair (data source from Kraken).
  • The pair is now positioned well above the $ 0.2700 support and the simple 100-hour moving average.

The price of the ripple moves with a bullish angle compared to the US dollar and Bitcoin. The XRP / USD could rise further to the resistance from $ 0.2900 and $ 0.3000 in the short term

Support for the price ripple

Yesterday, there was a decent move up from the low of $ 0.2600 at the price of Ripple compared to the US dollar. The XRP / USD pair traded above resistance levels $ 0.2650 and $ 0.2700. During the rise, there was a break above the resistance of $ 0.2720 and the simple moving average at 100 hours. In addition, the price exceeded the fiber retracement level of 61.8% of the last slide from $ 0.2900 upwards to $ 0.2490 below.

More importantly, there was a break above a key bearish trend line with resistance at $ 0.2675 on the hourly chart of the XRP / USD pair. The pair traded above the $ 0.2800 level and formed an intraday high at $ 0.2863. Next, there was a downward correction below the $ 0.2800 level. The price tested the fiber retracement level of 23.6% in the recent wave, from $ 0.2492 down to $ 0.2863 up. However, the downturns were limited by an uptrend line in connection with current support at $ 0.2790. It seems that the price may continue to rise as long as the trend line and $ 0.2720 support are intact.

 XRP ripple price analysis USD

Looking at the chart, the price of the ripple must clear the $ 0.2860 and $ 0.2900 resistance levels to go up towards $ 0 , 3000. The current price action is positive, but XRP must hold the support of $ 0.2720.

Looking at the technical indicators:

MACD timetable – The MACD for XRP / USD is slightly in the bearish zone.

RSI Time (Relative Strength Index) – The RSI for XRP / USD is well above the 60 level.

Major Support Level – $ 0.2720 [19659008] Main resistance level – $ 0.2900

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