XRP / USD could rise towards $ 0.3800

  ripple "title =" ripple

  Bitcasino

The price of the ripple has found a strong buying interest close to $ 0.3100 compared to the US dollar and has risen higher . The XRP / USD is now trading with a bullish upside and could trade towards $ 0.3800.

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Take away key

  • The price of ripple formed a support base near $ 0.3100 and rebounded higher.
  • The XRP / USD passed a downtrend line with resistance at $ 0.3400 on the 2-hour chart.
  • The XRP price is moving well in a positive zone and could trade higher towards $ 0.3600 and $ 0.3800.

Technical analysis Ripple

There were a couple of oscillations moving towards the levels of $ 0.3100 and $ 0.3120 in ripple compared to the US dollar. The XRP / USD found a strong buying interest, with a rise above the resistance levels of $ 0.3200 and $ 0.3300.

The 2-hour chart indicates that the price has risen close to the $ 0.3800 level once and corrected lower. There was a decline below the Fibonacci retracement level of 38.2% of the last wave, from $ 0.2455 down to $ 0.3804 in the swing.

  Ripple "width =" 1330 "height =" 501 "srcset =" https: //static.coingape. en / wp-content / uploads / 2018/08/22183221 / Ripple-price-XRP-chart-24-aug.png 1330w, https://static.coingape.com/wp-content/uploads/2018/08/22183221 /Ripple-price-XRP-chart-24-aug-300x113.png 300w, https://static.coingape.com/wp-content/uploads/2018/08/22183221/Ripple-price-XRP-chart-24- aug-768x289.png 768w, https://static.coingape.com/wp-content/uploads/2018/08/22183221/Ripple-price-XRP-chart-24-aug-1024x386.png 1024w "sizes =" ( max-width: 1330px) 100vw, 1330px
Chart provided by TradingView, Binance

However, the price found a strong buying interest at around $ 0.3100 and $ 0.3120 levels. In addition, the 50% Fibonacci retracement level of the last wave from the low of $ 0.2455 to $ 0.3804 prevented further slides.

A new wave of upswing has started and the price has risen above the resistance of $ 0.3250. There was also a break above a bearish trend line with resistance at $ 0.3400 on the same chart. The price has risen to $ 0.3600 before posting a few points.

It appears that the recent upside break above $ 0.3400 was positive, leading to a change in the trend. In the short term, there may be a downward correction for the $ 0.3300 level, but the dives remain supported.

Below $ 0.3300, the price will probably test the most important support at $ 0.3100 / 20. In addition, the simple moving average of 100 (2 hours) is positioned near the $ 0.3120 level to act as a purchase area.

Therefore, the lows compared to current levels could find downward buyers near $ 0.3200, $ 0.3120 and $ 0.3105. On the upside, the $ 0.3600 level is a key resistance for ripple buyers. A break above the $ 0.3600 resistance will most likely open the door for further gains towards the $ 0.3800 level.

In addition, read: XRP Price Beats Rivals Amid Manipulation Speculation & Binance Rum Amplifying Mill

Summary

  Technical Analysis Ripple: XRP / USD could rise towards $ 0.3800

Item Name

Ripple Analysis technique: XRP / USD could rise to $ 0.3800

Description

The price of the ripple has found a strong buying interest near $ 0.3100 compared to the US dollar and climbed more into high. The XRP / USD is now trading with an uptrend and could trade towards $ 0.3800.

Author

LATIKA MEHROTRA

Name publisher

COINGAPE

Logo publisher

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