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

11 months ago

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

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

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