Ripple Price Analysis: XRP’s Recovery Could Face Major Hurdles | 코인긱스

Ripple Price Analysis: XRP’s Recovery Could Face Major Hurdles

0

  • Ripple price traded towards the $0.3100 level recently and later started a correction against the US dollar.
  • There was a break above a connecting bearish trend line with resistance at $0.3180 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is currently following an ascending channel with support at $0.3160 on the same chart.

Ripple price is slowly recovering against the US Dollar and Bitcoin. However, XRP/USD is likely to face a lot of hurdles on the upside near the $0.3220 and $0.3250 levels.

Ripple Price Analysis

Yesterday, there was a sharp decline in ripple price below $0.3300 similar to Ethereum and bitcoin against the US Dollar. The XRP/USD pair even broke the $0.3200 support and settled below the 100 hourly simple moving average. It traded close to the $0.3100 level and formed a low at $0.3102. Later, the price started a short term upside correction and traded above $0.3150 and $0.3160. Buyers pushed the price above the 23.6% Fib retracement level of the recent slide from the $0.3350 high to $0.3100 low.

Moreover, there was a break above a connecting bearish trend line with resistance at $0.3180 on the hourly chart of the XRP/USD pair. The pair traded towards the $0.3220 level, which acted as a solid resistance. However, there was no test of the 50% Fib retracement level of the recent slide from the $0.3350 high to $0.3100 low. Therefore, there are chances of more upsides towards the $0.3225 and $0.3250 levels. The price action is still bearish and it seems like it won’t be easy for buyers to clear the $0.3220 and $0.3250 resistances.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is currently following an ascending channel with support at $0.3160. There could be a short term spike towards the channel resistance, $0.3220, and the 100 hourly SMA. A failure to gain momentum above these barriers could result in a fresh decline to $0.3100.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is about to move back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently near the 50 level, with a flat bias.

Major Support Level – $0.3160

Major Resistance Level – $0.3220

The post Ripple Price Analysis: XRP’s Recovery Could Face Major Hurdles appeared first on NewsBTC.

source : newsbtc.com

Ripple Price Analysis: XRP’s Recovery Could Face Major Hurdles

 

 

‘에이코인(ACOIN)” 은 전 세계 오프라인 금거래 시장에서 금의 안전한 거래를 위해 사용하는 프로토콜 암호화폐이며, 코인월드 에이코인(ACO) 전용마켓 오픈 예정
한미중일 4개국 합자투자로 탄생한 코인월드, ‘에이코인'(ACOIN) 국내 최초 상장 협의중으로 4/16 사전 예약 실시
Coin world, ACOIN listing Discussion
Cryptocurrency exchange coin world, advance booking on next 16th

No comments

후지쯔 유럽 지사장, IOTA 재단 합류

코인탤레그래피(cointelegraph)의 보도에 따르면, IOTA 재단 측은 공식 채널을 통해 일본 최대 컴퓨터 업체 후지쯔(Fujitsu)의 유럽 지사장 롤프 베르너(Rolf Werner) 교수가 IOTA 재단에 합류했다고 4월 9일…