Analysis of the price of Ripple Monday, March 5, 2018

The price of the Ripple has reported an increase of 17%, positioning the price above $ 1, excellent news. We’ll see if he can hold on and go for a new maximum.

Key points of Ripple’s price

  • The price of the Ripple began an important bullish movement from the minimum of $ 0.8850 against the US dollar.
  • There was a break above a key bearish trend line with resistance at $ 0.9300 on the hourly chart of the XRP / USD pair.
  • The pair traded above the $ 1,000 level before starting a downward correction.
  • The fluctuation price was negotiated above the key resistance levels against the US dollar and Bitcoin. XRP / USD is now trading in a bullish area above the support of $ 0.9400.

Analysis of the price of the Ripple

After a brief consolidation around the $ 0.9000 level, Ripple’s price formed a base against the US dollar. The price started a good bullish move from the low of $ 0.8850 and moved above the resistance level of $ 0.9200. There was also a break above the resistance of $ 0.9400 and a close above the simple moving average of 100 hours. These are positive signs and the negotiated price above the $ 1,000 level before starting a downward correction.

More importantly, there was a break above a key bearish trend line with a resistance of $ 0.9300 on the hourly chart of the XRP / USD pair. Later, the pair was corrected below the Fibonacci retracement level of 23.6% of the last wave, from the low of $ 0.8858 to the maximum of $ 1.0318. However, the $ 0.9700 level is acting as support. In addition, the 50% Fibonacci retracement level of the last wave, from the minimum of $ 0.8858 to $ 1.0318, is $ 0.9588 to act as support. Therefore, it seems that there are many downward supports close to the $ 0.9500 and $ 0.9400 levels.

As long as the price is higher than $ 0.9400, you can continue moving higher. On the positive side, resistances are close to the $ 1.00 and $ 1.02 levels, followed by the recent high of $ 1,031

Important technical indicators

  • MACD per hour: MACD for XRP / USD is slowly reducing its upward slope.
  • SRS per hour (Relative strength index): the RSI for XRP / USD is currently well above level 50.
  • Main support level: $ 0.9400
  • Higher resistance level – $ 1.0200