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Ripple Price Analysis: XRP/USD positive signs, 16 August.

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Ripple Price Key Features

  • Ripple price revised higher as of late and broke the $0.2660 and $0.2800 resistances against the US dollar.
  • There is another interfacing bearish pattern line framed with resistance at $0.3010 on the hourly chart of the XRP/USD combine (information source from Kraken).
  • The combine is right now beneath the 100 hourly SMA, however, it stays supported close $0.2660.

Ripple price is giving a couple of positive hints against the US Dollar and Bitcoin. XRP/USD must remain above $0.2660 to recoup encourage above $0.3000 in the close term.

Ripple Price Support

Recently, a nice upside move commenced and Ripple price moved over the $0.2660 resistance against the US Dollar. The XRP/USD combine even broke the $0.2800 and $0.2850 resistance levels to set the pace for more pick up. Be that as it may, the $0.3000 resistance went about as a noteworthy obstacle for purchasers. Ripple price neglected to settle above $0.3000 and framed a high at $0.3029. Afterwards, it rectified lower underneath the 23.6% Lie retracement level of the last wave from the $0.2472 low to $0.3029 high.

Additionally, there was a nearby beneath $0.2900 and the 100 hourly basic moving normal. On the drawback, an underlying support is close to the $0.2751 level. It speaks to the half Lie retracement level of the last wave from the $0.2472 low to $0.3029 high. Nonetheless, the most essential support is close to the $0.2660 level, which is a rotate zone. For whatever length of time that the price is above $0.2660, it could move higher. On the upside, an underlying resistance is close to $0.2880 and the 100 hourly SMA. Also, there is another interfacing bearish pattern line-shaped with resistance at $0.3010 on the hourly chart of the XRP/USD match.

XRPUSD Price Chart 16 August
XRPUSD Price Chart 16 August

Taking a gander at the chart, ripple price is as yet supported and it might maybe make another endeavour to move past $0.2900 and $0.3000 in the close term.

Taking a gander at the specialized markers:

Hourly MACD – The MACD for XRP/USD is going to move back in the bullish zone.

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

Real Support Level – $0.2660

Real Resistance Level – $0.3000

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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