11.4 C
Manchester
April 17, 2019
Image default
Ripple

Ripple Price Analysis: XRP/USD markets continue to recover, above $0.3200

Key Highlights

  • Ripple price remained supported above $0.3110 and $0.3140 level and moved higher against the US dollar.
  • There was a break above a connecting bearish trend line with resistance at $0.3250 on the hourly chart of the XRP/USD pair (data source from Binance).
  • The pair has to move above $0.3300 to gain traction in the near term towards $0.3380.

Ripple price is placed nicely in a positive zone against the US Dollar and Bitcoin. XRP/USD may perhaps break the $0.3300 to move towards $0.3450.


Ripple Price Trend

There was a retest of the $0.3110 support region in Ripple cost against the US Dollar. The XRP/USD combine is shaping a reliable support base close to the $0.31100 and $0.3150 levels. The cost moved higher and broke the $0.3200 level. It likewise cleared the 23.6% Fib retracement level of the last drop from the $0.3540 high to $0.3095 swing low. Be that as it may, upsides are restricted and the cost is confronting numerous obstacles close to the $0.3310 level.

The expressed $0.3310 level concurs with the 100 hourly basic moving normal. Additionally, the half Fib retracement level of the last drop from the $0.3540 high to $0.3095 swing low is likewise close $0.3315. Hence, the $0.3310 and $0.3315 levels are critical protections for purchasers. Ought to there be a break over these obstacles, the cost may maybe ascend towards the $0.3400 level. The following significant protections above $0.3400 is close to the $0.3500 level. On the drawback, the primary backings are at $0.3150 and $0.3120 levels where bulls are probably going to stand firm.

Bitcoin, BTC, Ethereum, BTCuk, BitCoinEurope, BTCeurope, ICO, ICOeurope, CryptoUK, CryptocurrencyUK, CryptosUK, Crypto, CryptoNews, CryptoLife, Cryptocurrency, InitialCoinOffering, CoinMarketCap, ETH, XRP, EOS, GVT, LTC, NEO, BNB, ADA, TRX, XVG, BCC, BCH

 

Looking at the chart, ripple price is forming a decent support base near the $0.3110 level. As long as the price is trading and consolidating above $0.3110, it is likely to climb higher towards $0.3400 in the near term.

Looking at the technical indicators:

  • Hourly MACD – The MACD for XRP/USD has moved back in the bullish zone.
  • Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now placed above the 50 level.
  • Major Support Level – $0.3110
  • Major Resistance Level – $0.3320

Related posts

Ripple CEO to Critics After Obtaining 200 Clients: Banks Will Use XRP

SYED UDDIN

Saudi Arabia Monetary Authority (SAMA) Is Helping Promote Ripple Technology

SYED UDDIN

Bitcoin ETF Will Lead to Billions of New Capital [But Not in 2018]

admin

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.