Ripple Price Analysis: XRP/USD Holding Key Support

Key HighlightsRipple cost is after a bullish route over the $0. 4750 pivot degree against the US dollar. There is a significant bullish trend line set up with support in $0. 4900 about the hourly chart of this XRP/USD set (data origin from Kraken). The set is very likely to expand the present upside movement provided that it’s over $0. Ripple cost is holding significant support levels against the US Dollar and Bitcoin. XRP/USD is very likely to move farther higher over the 0. 5050 degree in the near term. Ripple Price TrendYesterday, there was a slight upside wave over the 0. 4900 amount in Ripple cost against the US Dollar. After forming a low close the $0.4750 support, the price moved higher. There has been a fracture above the 50percent Fib retracement level of the final decrease in the 0. The XRP/USD pair traded over the 0. 5000 degree, but upsides were restricted by the 0. Moreover, the 61.8percent Fib retracement level of the final decrease in the 0. The pair dipped again, but declines were shielded by the 0. There is also a significant bullish trend line set up with support in $0. 4900 about the hourly chart of this XRP/USD pair. The set is presently trading well above the 0. 4900 support along with also the 100 hourly simple moving average. A break below $0. 4900 may potentially push the purchase price towards the 0. 4750 support zone. Ripple Price Analysis XRP USDLooking in the chart, the purchase price should clear the $0. 5000 and $0. 5050 resistance amounts to get traction. Above $0. 5050, the purchase price could reevaluate the 0. 5200 zone) The overall cost action is favorable provided that the cost is over the 0. 4750 service region. Looking in the technical indicators:-LRB-**************)Hourly MACD — The MACD for XRP/USD is gradually moving from the bearish zone. ) Hourly RSI (Relative Strength Index) — The RSI for XRP/USD is currently just over the 50 degree. Major Support Level — $0. ) 4900Major Resistance Level — $0. ) 5050Original post first appeared in https://www.newsbtc.com/2018/07/05/ripple-price-analysis-xrp-usd-holding-key-support/

Leave a Reply