Ripple Price Analysis: XRP/USD Eyeing Upside Break above $0.4650

2018-7-23 09:30

Key Highlights Ripple price found support near the $0.4300 level and recovered a few points against the US dollar. There was a break above major connecting bearish trend line with resistance at $0.4500 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently attempting an upside break above $0.4620 the 100 hourly simple moving average.

Ripple price is trading with a positive bias against the US Dollar and Bitcoin. XRP/USD must break $0.4620 and $0.4650 to accelerate higher in the near term.

Ripple Price Resistance

This past week, there was a sharp decline in Ripple price from well above the $0.5000 level against the US Dollar. The XRP/USD pair declined and cleared the $0.4600 and $0.4500 support levels. There was also a close below the $0.4500 level and the 100 hourly simple moving average. The price traded as low as $0.4292 before buyers took a stand and protected more losses.

Later, the price started an upside move and traded above the $0.4400 level. There was also a break above a major connecting bearish trend line with resistance at $0.4500 on the hourly chart of the XRP/USD pair. The pair moved above the 23.6% Fib retracement level of the last decline from the $0.5204 high to $0.4292 low. However, the pair faced a strong resistance near $0.4620 and the 100 hourly SMA. Moreover, the 38.2% Fib retracement level of the last decline from the $0.5204 high to $0.4292 low also prevented upsides.

Looking at the chart, the price is currently trading in a range below the $0.4620 resistance. To recover further, the price has to break the $0.4620 resistance and the 100 hourly SMA. The next major hurdle is at $0.4650, above which the price is likely to move towards the $0.5000 level.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is currently flat in the bearish zone.

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

Major Support Level – $0.4500

Major Resistance Level – $0.4650

The post Ripple Price Analysis: XRP/USD Eyeing Upside Break above $0.4650 appeared first on NewsBTC.

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Ripple (XRP) на Currencies.ru

$ 0.5189 (-0.10%)
Объем 24H $593.474m
Изменеия 24h: 0.69 %, 7d: -3.59 %
Cегодня L: $0.5172 - H: $0.5212
Капитализация $28.775b Rank 7
Цена в час новости $ 0.459654 (12.89%)

break above xrp price upside usd ripple

Источник: newsbtc.com

break above → Результатов: 77


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