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Ripple Price Analysis: XRP/USD in a positive zone, 24 August.

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Ripple Price Key Features

  • Ripple price stayed supported above $0.3120 and $0.3150 level and moved higher against the US dollar.
  • There was a break over an interfacing bearish pattern line with resistance at $0.3250 on the hourly chart of the XRP/USD match (information source from Kraken).
  • The match needs to move above $0.3300 to pick up footing in the close term towards $0.3380.

Ripple price is set pleasantly in a positive zone against the US Dollar and Bitcoin. XRP/USD may maybe break the $0.3300 to move towards $0.3450.

Ripple Price Pattern

There was a retest of the $0.3120 support territory in Ripple price against the US Dollar. The XRP/USD combine is framing a respectable support base close to the $0.3120 and $0.3150 levels. Ripple price moved higher and broke the $0.3200 level. It likewise cleared the 23.6% Lie retracement level of the last drop from the $0.3540 high to $0.3095 swing low. In any case, upsides are constrained and Ripple price is confronting numerous obstacles close to the $0.3310 level.

The expressed $0.3310 level harmonizes with the 100 hourly straightforward moving normal. In addition, the half Lie retracement level of the last drop from the $0.3540 high to $0.3095 swing low is additionally close $0.3315. Thusly, the $0.3310 and $0.3315 levels are imperative resistances for purchasers. Ought to there be a break over these obstacles, Ripple price may maybe ascend towards the $0.3400 level. The following real resistances above $0.3400 is close to the $0.3500 level. On the drawback, the fundamental supports are at $0.3150 and $0.3120 levels where bulls are probably going to stand firm.

XRPUSD Price Chart 24 August
XRPUSD Price Chart 24 August

Taking a gander at the chart, Ripple price is shaping a not too bad support base close to the $0.3120 level. For whatever length of time that Ripple price is exchanging and combining above $0.3120, it is probably going to move higher towards $0.3400 in the close term.

Taking a gander at the specialized pointers:

Hourly MACD – The MACD for XRP/USD has moved back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is presently set over the 50 level.

Significant Support Level – $0.3120

Significant Resistance Level – $0.3310

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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