Support Level – $0.3100
Resistance Level – $0.3350
- Ripple price moved upwards and broke the $0.3400 resistance level before the selling pressure increased.
- The price went to the $0.3460 level and later began a sharp drawback.
- Yesterday’s bullish pattern line is flawless with support around $0.3190 and $0.3200 on the hourly chart of the XRP/USD.
- The price is likely getting ready for a new upward move if it is able to stay above the $0.3100 support.
Ripple price began a bullish trend before cutting a large portion of its increases against the US Dollar as well as bitcoin. XRP stays supported on the drawback above $0.3100.
Ripple Price Analysis
Ripple price over the $0.3200 resistance territory yesterday. The XRP/USD pair picked up the pace and broke the $0.3300 and $0.3320 resistance levels. It even broke the $0.3400 resistance and spiked over the $0.3450 level. The price went close to the $0.3460 level and later began a sharp drawback. It declined underneath the $0.3320 support. Selling pressure was above to drove the price beneath the $0.3250 support region.
Ripple price discovered support close to the $0.3160 level. Yesterday’s bullish pattern line is flawless with support around $0.3190 and $0.3200 on the hourly chart of the XRP/USD pair. Underneath the pattern line, the next support is around $0.3135 level. The major support is close to the $0.3100 level and the 100 hourly SMA.
XRP price is probably going to find a lot of buyers around $0.3160, $0.3130 and $0.3100 support levels. However, if Ripple price breaks the $0.3100 support, the price may move in a bearish zone. If the price remains above $0.3100, it could begin a new upward move above $0.3300.
Taking a gander at the chart, ripple price stays all around supported over the $0.3100 level. The major resistance is around $0.3350 level, above which Ripple price could test the $0.3400 resistance level in the short term.