Ripple price is holding the key %excerpt%.2560 support zone against the US dollar.The price is still facing many hurdles near %excerpt%.3000 and the 55 simple moving average (4-hours).There is a major bearish trend line forming with resistance near %excerpt%.2820 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).The pair could accelerate higher once it clears the %excerpt%.2820 and %excerpt%.2840 resistance levels.Ripple price is trading in a positive zone above %excerpt%.2560 against the US Dollar. XRP price must settle above %excerpt%.2840 to increase the chances of a break above %excerpt%.3000.Ripple Price AnalysisThis past week, ripple price topped near the %excerpt%.3288 level against the US Dollar. The XRP/USD pair declined steadily and traded below the %excerpt%.3000 support level.There was also a spike below the main %excerpt%.2560 support
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, Ripple, Trading, XRP
This could be interesting, too:
Bilal Hassan writes DekaBank Partners with Boerse Stuttgart for Crypto Trading
Bilal Hassan writes Ukraine Eyes Crypto Tax to Support State Budget and Defense
Bilal Hassan writes Twitter Buzzes with Rumors of SEC Dropping Ripple Case in 7days!! if its true is XRP will head to ?
Emily John writes Ripple Unveils Institutional Roadmap Driving XRP Ledger Growth
- Ripple price is holding the key $0.2560 support zone against the US dollar.
- The price is still facing many hurdles near $0.3000 and the 55 simple moving average (4-hours).
- There is a major bearish trend line forming with resistance near $0.2820 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
- The pair could accelerate higher once it clears the $0.2820 and $0.2840 resistance levels.
Ripple price is trading in a positive zone above $0.2560 against the US Dollar. XRP price must settle above $0.2840 to increase the chances of a break above $0.3000.
Ripple Price Analysis
This past week, ripple price topped near the $0.3288 level against the US Dollar. The XRP/USD pair declined steadily and traded below the $0.3000 support level.
There was also a spike below the main $0.2560 support level and the price settled below 55 simple moving average (4-hours). It traded as low as $0.2408 and recovered quickly above $0.2560. There was a clear break above the 23.6% Fib retracement level of the downward move from the $0.3288 high to $0.2408 low.
However, the price is still facing many hurdles near $0.3000 and the 55 simple moving average (4-hours). There is also a major bearish trend line forming with resistance near $0.2820 on the 4-hours chart of the XRP/USD pair.
The trend line is close to the 50% Fib retracement level of the downward move from the $0.3288 high to $0.2408 low. A clear break above the trend line resistance could easily push the price towards the $0.3000 resistance level.
The next key resistance is near the $0.3080 level, above which the price is likely to jump towards the $0.3400 and $0.3500 levels. Conversely, the price could fail to clear $0.2840 and the $0.3000 barrier. An initial support on the downside is near the $0.2620 level.
The main support is still near the $0.2560 level. A daily close below the $0.2560 level could spark a sharp decline towards the $0.2200 and $0.2100 levels.
Ripple Price
Looking at the chart, ripple price is clearly trading below major hurdles near $0.2840 the 55 simple moving average (4-hours). Overall, the price could accelerate higher once it clears the $0.2820 and $0.2840 resistance levels.
Technical indicators
4 hours MACD – The MACD for XRP/USD is currently gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now just above the 50 level.
Key Support Levels – $0.2620, $0.2560 and $0.2550.
Key Resistance Levels – $0.2840 and $0.3000.