Ripple (XRP) Price Poised for Further Appreciation: BTC, ETH Jumps

2019-5-1 08:00

Ripple price started a decent upward move and broke the $0.2960 resistance against the US dollar. Both bitcoin and Ethereum recovered and gained more than 2.5%. There is a short term breakout pattern forming with resistance near $0.3085 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue higher and it is likely to test the $0.3175 and $0.3200 resistance levels.

Ripple price starts a decent rebound against the US Dollar, along with bitcoin. XRP is currently trading with a positive bias and looks set to test the $0.3200 barrier.

Ripple Price Analysis

After a major drop, ripple price formed a strong support above the $0.2850 level against the US Dollar. The XRP/USD pair slowly climbed above the $0.2880 and $0.2900 resistance levels. Later, there was a close above the $0.2920 resistance level and the 100 hourly simple moving average. Besides, the price cleared the 61.8% Fib retracement level of the drop from the $0.3082 high to $0.2798 low. It opened the doors for more gains and the price spiked above the $0.3080 level.

A high was formed near the $0.3088 level and the price is currently consolidating gains. Furthermore, there is a short term breakout pattern forming with resistance near $0.3085 on the hourly chart of the XRP/USD pair. Below the triangle support, the 23.6% Fib retracement level of the recent wave from the $0.2836 low to $0.3088 high might act as a support. The next key support is near the $0.2960 level. The 50% Fib retracement level of the recent wave from the $0.2836 low to $0.3088 high is also near the $0.2960 level.

On the upside, a break above the $0.3085 and $0.3100 levels is likely to open the doors for more gains. The next key resistance is near the $0.3160 and $0.3175 levels. Above these, the price is likely to grind further higher towards the $0.3200 resistance level.

Looking at the chart, ripple price clearly climbed higher and it is currently consolidating gains above $0.3000. In the short term, there could be a downside correction towards $0.3000 or $0.2960. There is also a connecting bullish trend line in place with support near the $0.2960 level on the same chart. Therefore, dips remain well supported close to the $0.2960 level. To the topside, the main target for the bulls could be $0.3200 or even the $0.3220 pivot level.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is slowly moving back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards the 60 and 55 levels.

Major Support Levels – $0.3020, $0.3000 and $0.2960.

Major Resistance Levels – $0.3085, $0.3160 and $0.3175.

The post Ripple (XRP) Price Poised for Further Appreciation: BTC, ETH Jumps appeared first on NewsBTC.

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Ripple (XRP) на Currencies.ru

$ 0.5132 (+0.34%)
Объем 24H $823.252m
Изменеия 24h: -0.77 %, 7d: 1.25 %
Cегодня L: $0.5077 - H: $0.5177
Капитализация $28.375b Rank 7
Цена в час новости $ 0.3035 (69.09%)

xrp ripple price pair resistance jumps eth

Источник: newsbtc.com

xrp ripple → Результатов: 126


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