Ripple (XRP) rose more than 30% against the US Dollar last week, over $ 0.3000. The XRP price has dropped below $ 0.3250, but according to technical indicators, a new increase above $ 0.3150 may be seen.
As we reported earlier, Ripple price has risen above the $ 0.3000 and $ 0.3150 resistance levels against the US dollar. The price dropped more than 20%, but the declines found support above the $ 0.2500 level. There is a large bullish trend line with support near $ 0.2780 on the 4-hour chart of the XRP / USD pair. The pair is probably preparing for the next rally above the $ 0.3000 resistance area.
Can Pass $ 0.30
Last week, after the Bitcoin and Ethereum rally, XRP also experienced a strong increase above $ 0.3000. The price went above the $ 0.3120 resistance and was well above the 100 simple moving average (4 hours). This can happen again, according to analyst Aayush Jindal.
The price now lowers the 61.8% Fib retracement level from $ 0.3255 to $ 0.2400. On the upside, there is a strong resistance near the $ 0.3000 level. A successful close above the $ 0.3000 barrier can open the doors for more profits.
The next major resistance is close to the $ 0.3120 level, where the price may increase to the $ 0.3200 and $ 0.3250 levels in the coming sessions.
On the contrary, if there is a negative correction, the ripple may find support around $ 0.2850. The trendline support near $ 0.2800 also holds the key that the bulls can fight under.
- 4-Hour MACD: For XRP / USD, the MACD is about to gain power in the bullish zone.
- 4-Hour RSI (Relative Strength Index): The RSI for XRP / USD is still well above the 50 level.
- Major Support Levels: $ 0.2850, $ 0.2800 and $ 0.2650.
- Major Resistance Levels: $ 0.3000, $ 0.3050 and $ 0.3120.