The price of Ripple today, Tuesday 20 February 2018, fell slightly by 0.97%, placing the price at $ 1.14.
Key points in the analysis
The price of Ripple is struggling to rise more and is currently trading below $ 1.0850 compared to the US dollar.
There is a large contraction triangle pattern that is formed with a resistance of $ 1.0700 on the hourly chart of the XRP / USD pair.
The pair must move above $ 1.0700 and the simple 100-hour moving average to advance further.
The price of Ripple is slowly moving away from the bullish zone against the US dollar and Bitcoin. XRP / USD must exceed $ 1.0700 and SMA of 100 hours to avoid further decreases.
Analyzing the price of ripple
There was no upward jump above $ 1.12 in the price of Ripple during the last three sessions against the US dollar. The price started a slow and steady downward movement and was trading below $ 1.10. It also traded under the support of $ 1.0750 and the simple 100-hour moving average. The last unsustainable upward movement above the 50% Fibonacci retracement level of the last fall from 1.1510 to the $ 1.0050 minimum.
There was no hourly closing above the $ 1.10 level, which caused a negative wave. At this time, a triangular pattern of significant contraction is forming a resistance of $ 1.0700 on the hourly chart of the XRP / USD pair. The pair is approaching a short-term break above $ 1.0700 or below $ 1.0400. On the positive side, above $ 1.0700, the price could test the Fibonacci retracement level of 61.8% from last autumn, from a maximum of 1.1510 to a minimum of $ 1.0050 of $ 1.0945. Above the $ 1.945 mentioned, the price may exceed the $ 1.10 level.
Important technical indicators.
- MACD per hour: MACD for XRP / USD now moves into the bearish zone.
- SRS per hour (relative strength index): RSI for XRP / USD has moved below level 50.
- Main support level: $ 1,0400
- Maximum resistance – $ 1.0700