- The price ripple is facing strong resistance near the levels of $ 0.2900 and $ 0.2920 against the US dollar.
- The bitcoin price has risen recently and has even broken resistance levels of $ 10,600 and $ 10,800.
- The highlighted bullish trend line of yesterday is active with support close to $ 0.2750 on the hourly chart of the XRP / USD pair (data source from Kraken).
- The pair could decrease by a few points, but remains supported above $ 0.2700.
The chain price is currently correcting gains from $ 0.2920 against the US dollar, while bitcoin rose above $ 10.800. It is likely that the price of XRP will rise sharply if it cancels the resistance of $ 0.2920.
Price analysis of corrugations
Yesterday we witnessed a decent recovery of the XRP price above the $ 0.2700 resistance against the US dollar. The XRP / USD pair even surpassed the $ 0.2800 resistance and settled above the 100-hour moving average. It has opened the door to higher earnings over the $ 0.2850 level. More importantly, there have been decent gains in other altcoins, including Ethereum, EOS and litecoin.
However, the chain price suffered strong resistance near the levels of $ 0.2900 and $ 0.2920. A fluctuating maximum was formed near $ 0.2918 and the price has recently begun a downward correction. He broke the support of $ 0.2850 plus the Fib retracement level of 23.6% of the recovery from the low of $ 0.2618 to a maximum of $ 0.2918. Finally, the price found support near the levels of $ 0.2750 and $ 0.2760.
Furthermore, the price found support near the Fib retracement level of 50% of the recovery from the low of $ 0.2618 to $ 0.2918. More importantly, yesterday's bullish trend line is active with support near $ 0.2750 on the hourly chart of the XRP / USD pair. The 100-hour SMA is also following the trend line and is currently close to $ 0.2720. Therefore, declines towards the $ 0.2750 and $ 0.2720 levels remain interesting for the bulls.
On the positive side, the main resistances are close to $ 0.2900 and $ 0.2920. Immediate resistance is close to $ 0.2880 and a bearish link trendline on the same chart. A convincing close above the $ 0.2920 level could start another upside move towards the $ 0.3000 and $ 0.3050 levels. An intermediate resistance is close to the level of $ 0.3020.
Looking at the chart, the ripple price is currently trading well above the support levels of $ 0.2750 and $ 0.2720. Therefore, there is a possibility of a new increase above the resistance levels of $ 0.2880 and $ 0.2920. Conversely, a successful closing time below the support of $ 0.2700 could negate the current bullish view in the coming sessions. The next key support is near the $ 0.2550 level.
MACD time – The MACD for XRP / USD is about to return to the bullish zone.
Hourly RSI (relative strength index) – The RSI for XRP / USD is currently just below level 50.
Main support levels: $ 0.2750, $ 0.2720 and $ 0.2700.
Main resistance levels: $ 0.2900, $ 0.2920 and $ 0.3000.