Ripple (XRP) Price Approaching Key Resistance, Can Buyers Make It?

Ripple price traded as low as $0.3134 and recently corrected higher against the US dollar.
The price broke the $0.3200 resistance area, but it is still below the key $0.3280 resistance.
Yesterdays highlighted key bearish trend line is intact with resistance near $0.3280 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair must break the trend line and $0.3300 to move into a positive zone.

Ripple price managed to recover a few points against the US Dollar, similar to bitcoin. XRP is currently trading above the $0.3200 level and it could attempt to break the $0.3280 resistance area.

Ripple Price Analysis

Recently, there was a downside extension below the $0.3200 support in ripple price against the US Dollar. The XRP/USD pair even traded below the $0.3150 level and formed a new weekly low at $0.3134. Later, the price started an upside correction above the $0.3140 and $0.3150 resistance levels. Buyers gained traction above the $0.3200 resistance and the 50% Fib retracement level of the last drop from the $0.3325 high to $0.3134 low.

It opened the doors for more gains and the price traded towards the $0.3260 level and 100 hourly simple moving average. However, the price struggled to stay above the 61.8% Fib retracement level of the last drop from the $0.3325 high to $0.3134 low. Moreover, yesterdays highlighted key bearish trend line is intact with resistance near $0.3280 on the hourly chart of the XRP/USD pair. Sooner or later, the pair could make an attempt to surpass the trend line and $0.3285.

If buyers succeed in clearing the $0.3280 resistance area, there are chances of a solid upward move above the $0.3300 level. The next key resistance is at 1.236 Fib extension level of the last drop from the $0.3325 high to $0.3134 low at $0.3372. On the other hand, if the price fails to move above the $0.3280 resistance, there could be fresh decline. On the downside, an initial support is at $0.3200, below which the price could trade towards the $0.3160 and $0.3150 levels.

Looking at the chart, ripple price is currently showing positive signs above $0.3200. Having said that, a proper close above $0.3280 and $0.3300 is must for more gains in the near term. If bulls continue to struggle near $0.3280, there could be another bearish reaction below $0.3200 in the coming sessions.

Technical Indicators

Hourly MACD The MACD for XRP/USD seems to be struggling to stay in the bullish zone.

Hourly RSI (Relative Strength Index) The RSI for XRP/USD is currently moving lower towards the 50 level.

Major Support Levels $0.3200, $0.3150 and $0.3130.

Major Resistance Levels $0.3280, $0.3300 and $0.3370.

The post Ripple (XRP) Price Approaching Key Resistance, Can Buyers Make It? appeared first on NewsBTC.

16.04.2019 / 23:10 13
Ripple (XRP) Price Could Retest $0.3000 Before Fresh Upside Ripple (XRP) Price Could Retest $0.3000
Ripple price failed near the $0.3370 level and declined below the $0.3250 support against the US dollar. The price traded to a new weekly low at
Ripple Price Analysis: XRP Could Decline To $0.3000 As Sellers Take Control Ripple Price Analysis: XRP Could
Ripple price is under pressure below the $0.3150 and $0.3200 resistance levels against the US dollar. The price is struggling to stay above the
Ripple Price Analysis: XRP Sighting Bullish Break Above $0.3200 Ripple Price Analysis: XRP Sighting
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
Ripple Price Analysis: XRP Signaling Bearish Extension In Short Term Ripple Price Analysis: XRP Signaling
Ripple price failed to stay above the $0.3250 and $0.3200 support levels and declined against the US dollar. This weeks followed major bullish trend
Ripple Price Analysis: XRP Trading Near Make-or-Break Levels Ripple Price Analysis: XRP Trading Near
Ripple price stayed above the $0.3200 support level, with a positive bias against the US dollar. This weeks followed key bullish trend line is in
Ripple Price Analysis: XRP At Risk of Additional Losses Below $0.3000 Ripple Price Analysis: XRP At Risk of
Ripple price extended losses and broke the $0.3300 and $0.3200 support levels against the US dollar. There is a key connecting bearish trend line
Comments (0)
Add a comment
Comment on