XRP price started a sharp rise in $ 2,850 zone. The price now corrects profits and shows positive drawing above $ 3.00.
- XRP price started a downward correction from the $ 3,220 zone.
- The price is now traded above $ 3.00 and the 100-hour simple advancing average.
- There was a break under a connecting bullish trend line with support for $ 3,150 on the hour table of the XRP/USD pair (data source of Kraken).
- The couple can start a new increase if it knew the $ 3,150 resistance zone.
XRP -Price regains strength
XRP price started a new increase compared to the $ 2,650 zone, it better than Bitcoin and Ethereum. The price was above the resistance levels of $ 2.85 and $ 3.00. It even rose above $ 3,050.
A high was formed at $ 3,214 and the price recently corrected some profit. There was a movement below the level of $ 3.15. The price fell below the 23.6% FIB retraction level of the upward movement of the $ 2,6562 Swing low to $ 3,214 high.
There was a break under a connecting bullish trend line with support for $ 3,150 on the hourly table of the XRP/USD pair. The price is now traded above $ 3.00 and the 100-hour simple advancing average.
At the top, the price can face the resistance to the level of $ 3,085. The first major resistance is near the level of $ 3,150. The next resistance is $ 3.20. A clear movement above the $ 3.20 resistance can send the price to $ 3,220 resistance. More profits can send the price to the resistance of $ 3,250 or even $ 3,350 in the short term. The next big obstacle for the bulls is perhaps $ 3,450.
Another decline?
If XRP did not know the $ 3,0850 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 close to the $ 2,9350 level or the FIB racement level of 50% of the upward movement of the $ 2,6562 Swing low to $ 3,214.
If there is a downward break and an end below the level of $ 2,9350, the price can continue to fall in the direction of $ 2,880 support. 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 $ 2,9350.
Important resistance levels – $ 3,0850 and $ 3,150.
