Ripple Price Analysis: XRP/USD Back Above $0.60

in #bitcoin7 years ago

Key Highlights

  • Ripple price jumped from the $0.5500 support zone and moved above $0.6000 against the US dollar.
  • This week’s highlighted important bearish trend line with resistance at $0.6000 was breached on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is now placed nicely above the $0.6000 level and it could accelerate gains in the near term.

Ripple price started a nice upside move against the US Dollar and Bitcoin. XRP/USD is now back above $0.6000 and is currently trading with a bullish bias.

Ripple Price Trend

It seems like there was a strong buying interest around $0.5500 in Ripple price against the US Dollar. The price started a solid upside move from the $0.5460 low and moved above the $0.5800 resistance level. There was also a break above the 50% Fib retracement level of the last drop from the $0.6105 high to $0.5460 low. It opened the doors for more gains and the price broke a key resistance at $0.6000.

More importantly, this week’s highlighted important bearish trend line with resistance at $0.6000 was breached on the hourly chart of the XRP/USD pair. The pair settled above $0.6000 and the 100 hourly simple moving average. It traded as high as $0.6265 and is currently trading nicely above $0.6100. If the current bias remains intact, there could be an upside move was above the $0.6250 level in the near term. The next key resistance for buyers is near the $0.6500 level.

Ripple Price Analysis XRP USD

Looking at the chart, if the price corrects lower, the 23.6% Fib retracement level of the last wave from the $0.5460 low to $0.6265 high may act as a support. However, the most important support is now at $0.6000 and the 100 hourly SMA.

Looking at the technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well above the 60 level.

Major Support Level – $0.6000

Major Resistance Level – $0.6250

The post Ripple Price Analysis: XRP/USD Back Above $0.60 appeared first on NewsBTC.



Posted from my blog with SteemPress : https://icoinfo.space/index.php/2018/05/29/ripple-price-analysis-xrp-usd-back-above-0-60/
Sort:  

This user is on the @buildawhale blacklist for one or more of the following reasons:

  • Spam
  • Plagiarism
  • Scam or Fraud

Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post!
If you believe this is an error, please chat with us in the #cheetah-appeals channel in our discord.

WARNING - The message you received from @aneurirc1223 is a CONFIRMED SCAM!
DO NOT FOLLOW any instruction and DO NOT CLICK on any link in the comment!

For more information about this scam, read this post:
https://steemit.com/steemit/@arcange/phishing-site-reported-postupper-dot-ml

If you find my work to protect you and the community valuable, please consider to upvote this warning or to vote for my witness.