Analysis of the price of Ripple Tuesday, April 10

The price of the Ripple reports a decrease of 2.96%, positioning the price below $ 0.48 with a difference of $ 0.01 compared to the day of Monday 9.

Highlights

  • The price of the XRP failed to maintain gains above the $ 0.5000 level and decreased against the US dollar.
  • The important uptrend trend line highlighted yesterday with support at $ 0.5020 broke on the XRP / USD pair time chart.
  • The pair currently has support of $ 0.4750, which is a positive sign in the short term.

The price of the expansive XRP is again struggling against the US dollar and Bitcoin. XRP / USD must stay above the support of $ 0.4750 to recover above $ 0.5000.

Analyzing the price of XRP

Yesterday, we saw a decent bullish movement above the $ 0.4800 level in the price of the XRP against the US dollar. The price was even negotiated above the resistance level of $ 0.5000. However, it failed to maintain gains above the $ 0.5000 level and formed a high near $ 0.5116. Later, a downward movement was initiated and the price decreased below the 23.6% retracement level of the last rising wave from the minimum of $ 0.4594 to $ 0.5116.

More importantly, the important bull trend line highlighted yesterday with support at $ 0.5020 broke on the XRP / USD pair time chart. The pair was below the $ 0.5000 support and tested $ 0.4750. There was also a peak below the Fibonacci retracement level of 61.8% of the last rising wave, from the low of $ 0.4594 to the high of $ 0.5116. However, it seems that the price maintains the support of $ 0.4750 very well. It has to recover above the $ 0.4900 level and the 100-hour simple moving average to get bullish momentum. Finally, a close above $ 0.5000 could push the price back into a bullish zone.

On the other hand, if the price does not stay above $ 0.4750, you can move in a bearish zone. The next downgrade support is at $ 0.4500.

Technical indicators

  • MACD per hour: MACD for XRP / USD moves slowly in the bullish zone.
  • Hourly RSI (relative strength index): the RSI for XRP / USD is just below level 50.
  • Main support level: $ 0.4750
  • Highest resistance level – $ 0.5000