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Ripple Price Analysis: Can XRP recover?

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MACD – The MACD for XRP is presently in the bearish zone.

Strength Index– The RSI for XRP is floating close to the 50 level.

Support Level – $0.5000

Key Points:

  • XRP price moved up a little, however, it confronted a good selling close to $0.5250 against the US dollar.
  • There is a fleeting bullish pattern line framed with support at $0.5050 on the hourly outline of the XRP/USD pair.
  • The pair may keep on solidifying over the $0.5000 support in the following couple of sessions.

Ripple price is at present exchanging a range against the US Dollar and Bitcoin. XRP/USD must break the $0.5200-0.5250 resistance to move into a bullish zone.

 

Ripple Price Analysis

Recently, we talked about that ripple price could recoup towards the $0.5200 level against the US Dollar. The XRP/USD pair moved higher and cleared the $0.5100 and $0.5180 resistance levels. The upward move was certain as the price even outperformed the $0.5200 level and settled over the 100 hourly straightforward moving normal. In any case, the price bombed close $0.5250 and the half Lie retracement level of the last drop from the $0.5610 swing high to $0.4860 swing low.

The price topped at $0.5253 and later began a drawback amendment. It moved beneath $0.5150 and the 23.6% Lie retracement level of the ongoing wave from the $0.4872 low to $0.5253 high. The current price activity is sure over the $0.5000 support region. There is a transient bullish pattern line framed with support at $0.5050 on the hourly diagram of the XRP/USD pair. Moreover, the half Lie retracement level of the ongoing wave from the $0.4872 low to $0.5253 high is going about as a support. For whatever length of time that the price is over the pattern line, $0.5000 and the 100 hourly SMA, it could recoup by and by.

 

 

XRPUSD 5 Day Chart 13 Nov
XRPUSD 5 Day Chart

 

Taking a gander at the graph, ripple price is right now uniting over the $0.5000 support. Purchasers will in all probability make another endeavor to push the price above $0.5200 and $0.5250 in the close term.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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