XRP price started a consolidation phase from the $ 3.20 resistance zone. The price is now consolidating profit and can strive for more profit above $ 3.20 zone.
- XRP price started a downward correction from the $ 3,220 zone.
- The price is now traded above $ 3,050 and the 100-hour simple advancing average.
- There was a break above a bullish flag pattern that formed with resistance at $ 3.10 on the hourly table of the XRP/USD pair (data source of Kraken).
- The couple can start a new increase if it knew the $ 3.20 resistance zone.
XRP price eyes fresh profits
XRP price started a new increase above $ 2,950 zone, better than Bitcoin and Ethereum. The price was above the resistance levels of $ 2.95 and $ 3.00.
A high was formed at $ 3,214 and the price recently corrected some profit. There was a movement below the level of $ 3.10. The price fell to the 50% FIB retracement level of the upward wave of the $ 2,6560 Swing low to $ 3.214 high.
However, the bulls were active in the neighborhood of $ 3.00 and pushed the price higher. There was a break above a bullish flag pattern that formed with resistance at $ 3.10 on the hourly table of the XRP/USD pair.
The price is now traded above $ 3,050 and the 100-hour simple advancing average. At the top the price can resist the level of $ 3,150 face. The first major resistance is near the level of $ 3.20. The next resistance is $ 3,220.
A clear movement above the $ 3,220 resistance can send the price to $ 3,320 resistance. More profits can send the price to the resistance of $ 3,380 or even $ 3,420 in the short term. The next major obstacle for the bulls is perhaps $ 3.50.
Another decline?
If XRP did not know the $ 3,150 resistance zone, it can start a new decline. The first support on the disadvantage is near the level of $ 3.00. The next major support is near the level of $ 2,950.
If there is a downward break and an end to the level of $ 2,950, the price can continue to fall in the direction of the support of $ 2,860 or the 61.8% FIB retraction level of the upward wave of the $ 2,6560 Swing Low to The $ 3,214 High. The next major support is near the $ 2,750 zone.
Technical indicators
Hourly MacD – The MACD for XRP/USD now loses pace in the bullish zone.
Picly RSI (relative strength -index) -The RSI for XRP/USD is now below the 50 -level level.
Important support levels – $ 3.00 and $ 2,950.
Important resistance levels – $ 3,150 and $ 3.20.