BTC / USD
23,024.00
0.56%
(-130)
ETH / USD
1,578.28
0.94%
(-15.03)
XRP / USD
0.40
1.7%
(-0.01)
LTC / USD
94.55
0.12%
(+0.11)
EOS / USD
1.03
3.93%
(-0.04)
BCH / USD
131.09
2.38%
(-3.19)
ADA / USD
0.38
2.97%
(-0.01)
XLM / USD
0.09
2.9%
(-0)
NEO / USD
7.97
2.53%
(-0.21)
XEM / USD
0.04
0.6%
(0)
DASH / USD
58.96
1.95%
(-1.17)
USDT / USD
1.00
0%
(0)
BNB / USD
308.84
1.09%
(-3.4)
QTUM / USD
2.58
4.41%
(-0.12)
XVG / USD
0.00
1.9%
(-0)
ONT / USD
0.20
3.32%
(-0.01)
ZEC / USD
45.06
1.21%
(-0.55)
STEEM / USD
0.19
1.31%
(-0)

Recovery Could Derail If This Support Gives Way

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Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it stays below the $0.3720 resistance.

  • Ripple is currently recovering above the $0.355 resistance zone against the US dollar.
  • The price is now trading near $0.360 and the 100 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $0.3480 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a fresh decline if it breaks the $0.3550 support and pivot zone.

Ripple Price Attempts Recovery

After a major decline, ripple’s XRP found support near the $0.3320 zone against the US Dollar. The price formed a base above the $0.3320 level before it started a recovery wave.

There was a decent increase above the $0.3450 and $0.3500 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $0.3480 on the 4-hours chart of the XRP/USD pair. In the past few sessions, xrp price gained pace above the $0.3550 resistance zone, outperforming bitcoin and ethereum.

The price even spiked above the 50% Fib retracement level of the key decline from the $0.3965 swing high to $0.3320 low. The price is now trading near $0.360 and the 100 simple moving average (4-hours).

An immediate resistance is near the $0.370 zone. The next key resistance is near the $0.372 level. It is near the 61.8% Fib retracement level of the key decline from the $0.3965 swing high to $0.3320 low.

Source: XRPUSD on TradingView.com

A successful break above the $0.372 resistance might send the price towards the $0.400 resistance. Any more gains might send the price towards the $0.425 level in the coming days.

Fresh Decline in XRP?

If ripple fails to clear the $0.372 resistance zone, it could start a fresh decline. An initial support on the downside is near the $0.358 level.

The next major support is near $0.355. If there is a downside break and close below the $0.355 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.332 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.355, $0.332 and $0.320.

Major Resistance Levels – $0.370, $0.373 and $0.400.

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