[ad_1]
- Resistance against the US dollar.
- There is a key bullish trend line formed with support at $ 0.3240 on the hourly chart of the XRP / USD pair (data source from Kraken).
- The pair could break to the downside if the sellers push the price below $ 0.3200 and $ 0.3150.
US Dollar and Bitcoin. XRP / USD could accelerate losses if buyers continue to struggle above $ 0.3300 in the near term.
Ripple Price Analysis
Recently, there was a dip below the $ 0.3250 and $ 0.3200 support in the ripple price against the US Dollar. The XRP / USD pair traded as low as $ 0.3192 and later corrected higher. It moved above the $ 0.3220 and $ 0.3250 resistance levels. 50% Fib retracement of the last slide from the $ 0.3383 high to $ 0.3192 low. Moreover, there was a break above the $ 0.3300 level and the 100 hourly simple moving average.
Buyer also pushed the price above with a bearish trend line with resistance at $ 0.3260 on the hourly chart of the XRP / USD pair. However, the upside move was capped by the $ 0.3320 and $ 0.3330 resistance levels. 61.8% Fibreflexion of the last slide from the $ 0.3383 high to $ 0.3192 low. As a result, it is a reduction below the $ 0.3300 level and the 100 hourly simple moving average. Support for the bullish trend line with $ 0.3240 on the same chart. If there is a downside below the trend line and $ 0.3220, the price could accelerate losses.
Into the bearish zone $ 0.3250. If buyers continue to struggle, there could be more declines below $ 0.3200. The next key supports are $ 0.3150 and $ 0.3105.
Technical Indicators
Hourly MACD – The MACD for XRP / USD is showing a few negative signs in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP / USD is currently well below the 50 level.
Major Support Level – $ 0.3200
Major Resistance Level – $ 0.3300
