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April 17, 2019
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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.

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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

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