Undulation price analysis: XRP / USD may break the $ 0.2650 service

Key Key Aspects

  • The price of corrugations was corrected more quickly, but failed to overcome the resistance of $ 0.2900 against the US dollar.
  • C & # 39; is a bearish trend line in place with resistance at $ 0.2850 on the hourly chart of the XRP / USD pair (source data from Kraken).
  • The pair is currently moving lower and remains at risk of further losses below the support of $ 0.2650.

The price of ripple falls again against the US dollar and Bitcoin. The XRP / USD could also break the $ 0.2650 support to test the $ 0.2500 level in the short term.

Resistance to the price of ripple

Recently, the price of Ripple has returned to the support area of ​​$ 0.2650-80 compared to the US dollar. The XRP / USD pair found a strong buying interest and then started an upward move above the $ 0.2750 level. The price even broke the resistance of $ 0.2800 and the retracement level of 50% of the last decline from the low of $ 0.3044 to $ 0.2685 low swinging

However, the upward move is was limited by the resistance of $ 0.2900 and the 100-hour moving average. In addition, the price failed to cancel the fiber retracement level of 61.8% from the last decline, from $ 0.3044 up to $ 0.2685 in low fluctuation. More importantly, there is a bearish trend line in place with resistance at $ 0.2850 on the hourly chart of the XRP / USD pair. The pair was clearly rejected and is currently lowering to the last low swing at $ 0.2680. It seems that sellers could try to cancel the levels of $ 0.2680 and $ 0.2650. If they succeed, the price may fall back to the support zone $ 0.2500.

 Price analysis of XRP corrugations USD

Looking at the chart, the price of the ripple is traded in a downward zone below $ 0.2900 and $ 0.3000 resistance levels . If buyers need to get traction, they have to push the price over $ 0.3000.

Looking at the technical indicators:

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

RSI Time (Relative Strength Index) – The RSI for XRP / USD is now well below the 50 level.

Major Support Level – $ 0.2680

Main resistance level – $ 0.2900

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