Ripple Rate Technical Analysis– XRP/USD Rises Past $0.2400
Published on 5:08 am October 6, 2017 Author Aayush JindalCategories Altcoins, Analysis, move greater and it might even challenge the$0.2500 level in the near term.Ripple price powered greater against the US Dollar and Bitcoin. XRP/USD might continue to get pace and could even break$0.2500. Ripple Cost Bullish Pattern Throughout the past couple of days, there was a sharp rise in Ripple price above the$0.2100 level against the US Dollar. The other day, I discussed that the price may continue to move greater and the next significant hurdles are $0.2400 and $0.2500. The price extended its gains and was able to move past the $0.2400 deal with. A high was formed at $0.2446 and the cost later on started a downside correction.It is presently checking the 23.6%Fib retracement level of the last wave from the $0.2010 low to $0.2446 high. Furthermore, there is a significant bullish trend line forming with support at$ 0.2340 on the hourly chart of the XRP/USD. As long as the price is above the pattern line support at $0.2340, it may return above $0.2400 and might even trade towards $0.2500.
On the other hand, a break and close below $0.2340 would require a test of the 50% Fib retracement level of the last wave from the $0.2010 low to $0.2446 high. The total pattern is bullish for XRP and the cost is most likely to form yet another high above $0.2446 in the near term.Looking at the
Hourly MACD— The MACD for XRP/USD is currently revealing a lot of favorable signs.Hourly RSI(Relative Strength Index)– The RSI for XRP/USD is fixing lower from the overbought levels.Major Support Level–$0.2340 Major Resistance Level– $0.2440 Disclaimer: The info consisted of herein is not guaranteed, does not profess to be extensive and is strictly forinformation
purposes just. It ought to not be considered investment/trading guidance. All the information is believed to come from dependable sources. NewsBTC does not warrant the accuracy, accuracy, or efficiency of information in its analysis and therefore will not be accountable for any loss incurred.