Ripple XRP price maneuvers uphill to the $0.2950 level, and further faces the $0.2950 and $0.2980 resistance marks. A bearish trend is indicated close to the $0.2950 level based on the hourly rates of the duo (Ripple and US Dollar).
The possibilities are; the rise above the level of $0.2950 or decrease to reinstate the $0.2850 support area.
Ripple XRP price movement: What to expect?
It is indicated that the Ripple XRP price fell below the $0.2850 support area, with the 0.2810 level acting as a driving force for the road to recovery.
It gained some movement past the 0.2850 levels, with a halt beyond the 0.2920 level and the one hundred SMA. The price was even able to surpass the $0.2950 mark but was unable to go above $0.2980.
The Ripple XRP price high reached to a whole $0.2977 with the price now reducing. It is visible that it is being exchanged beneath the twenty-three percent (23%) Fibonacci Retracement.
At the moment, the 0.2900 levels and the one hundred hour SMA are preventing further declines. Any further decrease may lead XRP towards the significant 0.2850-dollar level.
Above this, there is a strong force of resistance close to the 0.2950 and 0.2890 dollar levels. The bearish trend as mentioned above forms resistance at $0.2950. Thus, an upward break above this level could potentially result in a further increase.
The chart indicates the prices facing significant obstacles nearing the 0.2950 and 0.2890 levels. In case similar trends are shown, the price could continue to rise shortly.
The moving average convergence/divergence per hour strives to enter the bullish zone, and the relative strength index per hour only displays a level of fifty.
The primary support lies at:
- 0.2900 US dollars
- 0.2850 US dollars
- 0.2800 US dollars
The primary resistance lies at:
- 0.2950 US dollars
- 0.2980 US dollars
- 0.3040 US dollars