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Ripple Price Analysis: XRP/USD trekking higher, 27 August.

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Ripple Price Key Features

  • Ripple price framed a conventional support close to the $0.3200 level and moved higher against the US dollar.
  • There was a break over a major bearish pattern line with resistance at $0.3240 on the hourly chart of the XRP/USD pair (information source from Kraken).
  • The pair is moving higher and it appears as though it could test the $0.3400 level in the close term.

Ripple price is moving higher against the US Dollar and Bitcoin. XRP/USD is probably going to gradually ascend towards the $0.3400 and $0.3450 resistance levels.

Ripple Price Support

In the wake of testing the $0.3120 support indeed, Ripple price recuperated higher against the US Dollar. The XRP/USD pair exchanged over the $0.3200 level and furthermore shaped a not too bad support base close $0.3190-0.3200. Afterward, the price began a crisp upside move and exchanged over the 23.6% Lie retracement level of the last slide from the $0.3541 high to $0.3090 low.

Ripple price additionally exchanged over the $0.3250 resistance and the 100 hourly basic moving normal. All the more imperatively, there was a break over a major bearish pattern line with resistance at $0.3240 on the hourly chart of the XRP/USD pair. The pair exchanged over the $0.3260 level and is at present exchanging a positive zone. The quick resistance is $0.3315 and a half Lie retracement level of the last slide from the $0.3541 high to $0.3090 low. A tear above $0.3315 may maybe open the entryways for a push towards the $0.3400 resistance. On the off chance that there is a drawback redress, the $0.3250 and $0.3200 levels are probably going to go about as supports.

XRPUSD Price Chart 27 August
XRPUSD Price Chart 27 August

Taking a gander at the chart, ripple price is exchanging with a positive inclination above $0.3200. The ongoing break is flagging more upsides over the $0.3300 and $0.3350 levels in the close term.

Taking a gander at the technical pointers:

Hourly MACD – The MACD for XRP/USD is gradually picking up the pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is presently well over the 60 level.

Major Support Level – $0.3200

Major Resistance Level – $0.3400

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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