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Key Issues
- The price of ripple remained supported above $ 0.3120 and $ 0.3150 and moved higher than the US dollar
- C & # 39; was a break above a bearish trend line with resistance at $ 0.3250 on the hourly chart of the XRP / USD pair (source data from Kraken).
- The pair must move above $ 0.3300 to get short-term traction to $ 0.3380.
The price of the ripple is positioned well in a positive zone compared to the US dollar and Bitcoin. The XRP / USD could possibly break the $ 0.3300 to move towards $ 0.3450.
Ruffled price trend
There was a new test of the $ 0.3120 support area in the Ripple price compared to the US dollar. The XRP / USD is forming a decent support base near the levels of $ 0.3120 and $ 0.3150. The price has moved higher and broke the $ 0.3200 level. It also zeroed the fiber retracement level of 23.6% of the last drop, from $ 0.3540 up to $ 0.3095 in low fluctuation. However, the positives are limited and the price is facing many obstacles close to the $ 0.3310 level.
The declared level of $ 0.3310 coincides with the 100-hour moving average. Furthermore, the 50% fiber retracement level of the last decline from the low of $ 0.3540 to $ 0.3095 is also close to $ 0.3315. Therefore, the levels of $ 0.3310 and $ 0.3315 are important resistances for buyers. Should there be a break above these obstacles, the price could rise to the $ 0.3400 level. The next major resistances above $ 0.3400 are close to the $ 0.3500 level. On the downside, the main supports are at $ 0.3150 and $ 0.3120 levels where bulls are likely to take position
Looking at the chart, the price of the ripples is forming a decent support base near the $ 0.3120 level. As long as the price is traded and consolidates above $ 0.3120, it is likely to rise higher towards $ 0.3400 in the short term.
Looking at the technical indicators:
MACD timetable – The MACD for XRP / USD is back in the bullish zone.
RSI Time (Relative Strength Index) – The RSI for XRP / USD is now placed above the 50 level.
Major Support Level – $ 0.3120 [19659008] Major Resistance Level – $ 0.3310
