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Key Issues
- The price of ripple formed a moderate support near the $ 0.3200 level and rose higher than the US dollar.
- There was a break above a bearish trend line with resistance at $ 0.3240 on the hourly chart of the XRP / USD pair (source data from Kraken).
- The pair is moving higher and it looks like it could test the $ 0.3400 level in the short term.
The price of ripple rises higher than the US dollar and Bitcoin. The XRP / USD is expected to slowly rise to resistance levels from $ 0.3400 to $ 0.3450.
Price ripple support
After testing the $ 0.3120 support again, Ripple's price recovered higher than the US dollar. The XRP / USD pair traded above the $ 0.3200 level and also formed a decent support base near $ 0.3190-0.3200. Subsequently, the price started a new upward move and surpassed Fib's 23.6% retracement level of the last slide from the low of $ 0.3541 to $ 0.3090 low.
The price was traded above the resistance of $ 0.3250 and the 100-hour moving average. More importantly, there was a break above an important bearish trend line with resistance at $ 0.3240 on the hourly chart of the XRP / USD pair. The pair was trading above the $ 0.3260 level and is currently trading in a positive zone. Immediate resistance is $ 0.3315 and the 50% retracement level of Fibers from the last slide from $ 0.3541 up to $ 0.3090 below. A break above $ 0.3315 could perhaps open the door to a $ 0.3400 resistance push. If there is a downward correction, the levels of $ 0.3250 and $ 0.3200 will probably support.
Looking at the chart, the price of the ripple is traded with a positive bias above $ 0.3200. The recent break is signaling higher rises above the levels of $ 0.3300 and $ 0.3350 in the short term
Looking at the technical indicators:
MACD timetable – MACD for XRP / L & # 39; USD is slowly gaining ground in the bullish zone.
RSI Time (Relative Strength Index) – The RSI for XRP / USD is now well above the 60 level.
Main support level – $ 0.3200
Main resistance level – $ 0.3400
