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Ripple Price Analysis: XRP/USD in a bullish zone, 28 August.

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Ripple Price Key Features

  • Ripple price broke the $0.3250 and $0.3300 resistance levels to move into a bullish zone against the US dollar.
  • There is an interfacing bullish pattern line shaped with support at $0.3260 on the hourly outline of the XRP/USD combine (information source from Kraken).
  • The pair shaped an intraday high at $0.3436 and it is as of now rectifying lower towards $0.3320.

Ripple price is situated pleasantly in a bullish zone against the US Dollar and Bitcoin. XRP/USD plunges stay supported around the $0.3320 and $0.3300 levels in the close term.

Ripple Price Pattern

Recently, we talked about that Ripple price could test the $0.3400 resistance against the US Dollar. The XRP/USD combine traded higher, broke the $0.3300 resistance level, and tried the $0.3400 level. There was a nearby over the $0.3300 support and the 100 hourly straightforward moving normal. The price exchanged as high as $0.3436 and later it began a drawback remedy.

It is right now trading close to the 23.6% Lie retracement level of the ongoing upside from the $0.3191 low to $0.3436 high. On the drawback, there are many support levels close $0.3300 and $0.3320. The expressed $0.3320 level was a resistance before, and it could now go about as a support above $0.3300. Also, the half Lie retracement level of the ongoing upside from the $0.3191 low to $0.3436 high is at $0.3313. Promote underneath, there is an interfacing bullish pattern line shaped with support at $0.3260 on the hourly diagram of the XRP/USD match. Along these lines, if the price keeps on moving down, it is probably going to discover solid offers close $0.3300.

XRPUSD Price Chart 28 August
XRPUSD Price Chart 28 August

Taking a gander at the graph, ripple price has moved into a positive zone above $0.3300. On the upside, a nearby over the $0.3400 and $0.3450 levels may well clear the way for a push above $0.3500.

Taking a gander at the technical indicators:

Hourly MACD – The MACD for XRP/USD is pleasantly put in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is moving lower from 75 to 60.

Significant Support Level – $0.3300

Significant Resistance Level – $0.3450

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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