Ripple was experiencing a major decline in prices until the market momentum increased near the zero point two nine dollars support level ($0.2965). This caused the prices to then spark up and hit the resistance level range of zero point three zero to zero point three one dollars ($0.3050 and $0.3100). A trend of increased market momentum is in sight with the resistance level of zero point three two ($0.3220).
In the previous week, the cryptocurrencies like Bitcoin, Ethereum, BTC, ADA, and Ripple were experiencing a golden period against the USD. The ripple and US dollar had hit an all-time low falling below the support levels of zero point three zero eight to zero point three zero dollars( $0.3080 and $0.3000 ).
But the decline was followed by an increase in price an ultimately cause Ripple to settle down at the level of zero point three one ( $0.3100) dollars. An increased market momentum was expected with the resistance at zero point three two dollars ($0.3220) on the 4-hour chart of the pairing. However, This decline was protected by the support level.
If we study the chart right now the price of ripple is stable at the zero point three one dollars level. With this, the market momentum has to b increased in order to hit the price of zero point three two ($0.32) levels. In order to hit that price range, the support levels have to be at zero point three one ($0.3100) level.
The moving average convergence/divergence is increasing because of the positive prejudice for ripple. On the other hand, the Relative Strength Index is stable above the fifty-five level. The key support levels are ranges of zero points three one five ($0.3150), zero point three one one ($0.3110) and zero point three one zero ($0.3100). Similarly, the resistance levels are zero point three two two and zero point three two five dollars ( $0.3220 and $0.3250).