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- The price of sales currently shows some positive signs above the support of 0.2980 dollar against the US dollar.
- The main declining channel highlighted yesterday is intact, with resistance close to $ 0.3035 on the hourly chart of the XRP / USD pair (Kraken data source).
- The pair is likely to break the resistance levels of $ 0.3040 and $ 0.3060 for a new uptrend.
The rising price is slowly recovering against the US dollar and Bitcoin. The XRP / USD could take a bullish momentum once it breaks through resistance levels of $ 0.3040 and $ 0.3060.
Ripple price badysis
Over the past few days, the price of ripples has steadily declined from the high of $ 0.3180 against the US dollar. The XRP / USD pair is traded under support levels of $ 0.3120 and $ 0.3040. It even traded below $ 0.3K support to move into a bearish zone. There was a decline to the level of $ 0.2940 and the price was below the simple moving average of 100 hours. A minimum was formed at $ 0.2939. Later, the price started a rebound in the short term. The price climbed above the resistance of $ 0.2980, with bullish movements.
The price even traded above the $ 0.3k level, but bullish movement was limited by the resistance of 0.3040 USD. Most importantly, the main declining channel highlighted yesterday is intact with a resistance close to 0.3035 USD on the XRP / USD time chart. The pair has traded up to $ 0.3041 and is trading near the SMA every 100 hours. The initial support is close to $ 0.2990 and the Fib retracement level is 50% of the recent wave, rising from the low of $ 0.2939 to $ 0.3041. However, the main support is around 0.2980 USD and the Fib retracement level of 61.8% of the recent wave has moved from the lowest level of 0.2939 USD to 0.3041 USD. Therefore, in the event of a downward correction, the price could find support near 0.3000 USD, 0.2990 USD or 0.2980 USD.
Looking at the chart, the price to the wave shows some positive signs over the $ 0.2980 support. If buyers pushed prices above the resistance of $ 0.3040, it was likely that additional gains would be closer to $ 0.3060 and $ 0.3100.
Technical indicators
Hourly MACD – The MACD for XRP / USD is slightly placed in the bullish zone.
RSI (Relative Strength Index) – The RSI for XRP / USD is now well above Level 50.
Major Support Level – $ 0.2980
Major resistance level – $ 0.3040
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