Reason to trust

How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
- Ripple price struggled to break the $0.3200 resistance level and corrected lower against the US dollar.
- The price declined below the $0.3150 level and tested the $0.3125 support area.
- There is a key bullish trend line formed with support at $0.3145 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair must clear the $0.3180 and $0.3200 resistance levels to start a solid bullish wave towards $0.3300.
Ripple price is trading key supports against the US Dollar and bitcoin. XRP/USD must clear the $0.3200 resistance area to kick start a fresh bullish wave towards $0.3280 and $0.3300.
Ripple Price Analysis
This past week, we saw a nice rebound in ripple price from the $0.3000 support against the US Dollar. The XRP/USD pair traded above the $0.3120 and $0.3150 resistance levels. There was also a close above the $0.3120 level and the 100 hourly simple moving average. Finally, there was a spike towards the $0.3250 level before the price started a downside correction. It traded below the $0.3200 and $0.3180 levels. However, the $0.3125 support and the 100 hourly SMA acted as a decent barrier for sellers.
A low was formed at $0.3128 and later the price corrected higher. It moved above the $0.3140 level and the 50% Fib retracement level of the recent drop from the $0.3201 high to $0.3128 low. However, the upside move was capped by the $0.3180 resistance. It also represents the 61.8% Fib retracement level of the recent drop from the $0.3201 high to $0.3128 low. Should ripple break the $0.3180 resistance, it may struggle to clear the $0.3200 resistance. Finally, if there is an upside break above $0.3200, the price may rally towards $0.3300.
On the downside, there are many supports above $0.3125. There is also a key bullish trend line in place with support at $0.3145 on the hourly chart of the XRP/USD pair. If there is a downside wave, the trend line support and 100 hourly SMA may hold losses near $0.3140. If there is a break below the $0.3128 swing low, the price could move back in the bearish zone.
Looking at the chart, ripple price is trading above key supports near $0.3140. As long as buyers are active above $0.3125, there are chances of more upsides. The main resistance is at $0.3200, above which the price is likely to climb towards $0.3300 or even $0.3320.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is currently placed nicely in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD tested the 60 level and it is currently correcting lower.
Major Support Levels – $0.3145, $0.3140 and $0.3125.
Major Resistance Levels – $0.3180, $0.3200 and $0.3250.