Ripple Price Analysis: XRP/USD Sighting Upside Break Above $0.55

2018-9-28 10:30

Key Highlights

Ripple price is holding gains above the $0.5100 support level against the US dollar. Yesterday’s highlighted important bearish trend line is intact with resistance at $0.5550 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may perhaps break the $0.5500 and $0.5550 resistance levels in the near term.

Ripple price is placed in a positive zone against the US Dollar and Bitcoin. XRP/USD is likely to surge above $0.5550 to test the $0.6000 resistance level.

Ripple Price Analysis

There was a minor downside correction from the $0.5730 swing high in Ripple price against the US Dollar. The XRP/USD pair declined and traded below the $0.5400 support level. There was even a break below the $0.5200 level and the 100 hourly simple moving average. However, losses were contained by the $0.5000 support area. The price formed a low at $0.4968 and later recovered.

It traded above the 50% fib retracement level of the last decline from the $0.5739 high to $0.4968 low. There was a decent upward move above the $0.5400 level and the 100 hourly SMA. However, the upside move was capped by the $0.5550 level. More importantly, yesterday’s highlighted important bearish trend line is intact with resistance at $0.5550 on the hourly chart of the XRP/USD pair. The 76.4% fib retracement level of the last decline from the $0.5739 high to $0.4968 low is also near $0.5557. Therefore, an upside break above the $0.5500 and $0.5550 resistance levels could open the doors for more gains.

Looking at the chart, ripple price is trading nicely above the $0.5200 support and the 100 hourly SMA. Dips towards $0.5150 remains supported and buyers may soon make an attempt to surpass $0.5500 in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slowly flat in the bullish zone.

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

Major Support Level – $0.5200

Major Resistance Level – $0.5500

The post Ripple Price Analysis: XRP/USD Sighting Upside Break Above $0.55 appeared first on NewsBTC.

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Ripple (XRP) на Currencies.ru

$ 0.5199 (+0.03%)
Объем 24H $468.015m
Изменеия 24h: -0.93 %, 7d: 2.77 %
Cегодня L: $0.5194 - H: $0.5235
Капитализация $28.744b Rank 7
Цена в час новости $ 0.5391 (-3.56%)

break above usd price ripple xrp resistance

Источник: newsbtc.com

break above → Результатов: 126


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