Technical analysis of the Ripple price March 19, 2018

The price of the Ripple reports an increase of 8.89%, positioning the price above $ 0.66 dollars.

Important points

  • The price of the XRP after a significant drop, found support near $ 0.55 and recovered against the US dollar.
  • There was a break above a key bearish trend line with a resistance of $ 0.6200 on the hourly chart of the XRP / USD pair.
  • The pair may rise further, but it has to break and settle above the resistance of $ 0.70 and the simple moving average of 100 hours.
  • The Ripple price is showing some positive signs against the US dollar and Bitcoin. XRP / USD must break the resistance of $ 0.70 to get higher bullish momentum.

Ripple price support

There were disappointing losses last week in the Ripple price from the pivotal level of $ 0.8000 against the US dollar. The price fell and moved below support levels of $ 0.7000 and $ 0.6000. It changed to the level of $ 0.5000 and formed a minimum of $ 0.5341 before starting a bullish move. He corrected himself higher and managed to move above the resistance levels of $ 0.5800 and $ 0.6000.

The bullish move was positive since the price was even able to overcome the $ 0.6200 barrier. In addition, there was a break above a key bearish trend line with a resistance of $ 0.6200 on the hourly chart of the XRP / USD pair. The pair was trading up to $ 0.6868 and is currently trading near the 100-hour simple moving average. It is slowly correcting below and is testing the 23.6% Fibonacci retracement level of the last wave from the low of $ 0.5341 to the high of $ 0.6868. You can fix some more points, but you could find support near $ 0.6250.

The above support of $ 0.6250 is close to the Fibonacci retracement level of 38.2% of the last wave, from the low of $ 0.5341 to the high of $ 0.6868. On the positive side, the price has to move above resistance levels of $ 0.6800 and $ 0.7000 to get a bullish momentum.

Technical indicators

  • MACD per hour: MACD for XRP / USD is currently in the bullish zone.
  • Hourly RSI (relative strength index): the RSI for XRP / USD is now close to level 60.
  • Main support level: $ 0.6250
  • Highest resistance level – $ 0.7000