The price of XRP has started a standardization phase of the resistance area of $ 3.20. The price is now working to merge the gains and may aim to make more gains over the $ 3.20 region.
- The XRP price has started a negative correction from the $ 3.220 region.
- The price is now trading over $ 3.050 and the simple moving average is 100 hours.
- There was a break above the oud science style that is formed with resistance at 3.10 dollars on the XRP/USD (data source from Kraken).
- The husband may start with a new increase if the resistance area is wiped $ 3.20.
XRP Eyes price new gains
The price of XRP has started a new increase over the $ 2.950 region, outperform performance Bitcoin and ethereum. The price rose above the resistance levels $ 2.95 and $ 3.00.
A height was formed at $ 3.214, and the price recently corrected some gains. There was a less than a level of $ 3.10. The price fell toward the rendray level by 50 % of the upward wave from an altitude of $ 2.660 to a height of $ 3.214.
However, the bulls were active near $ 3.00 and paid the price up. There was a break above the upper flag pattern that is formed with resistance at $ 3.10 on the XRP/USD chart.
The price is now trading over $ 3.050 and the simple moving average is 100 hours. On the upper side, the price may face resistance near the 3.150 dollar level. The first large resistance approaches the level of $ 3.20. The following resistance is $ 3.220.
You may send a clear step over $ 3.220 resistance, the price is about $ 3.320. Any other gains may send the price to resist $ 3.380 or even $ 3.420 in the short term. The next main obstacle may be 3.50 dollars.
Another retreat?
If XRP fails to scan the resistance area of $ 3.150, it may start another decrease. Initial support on the downside is near the 3.00 -dollar level. The next main support is near the 2.950 dollar level.
If there is a break on the downside and a majority lower than the level of $ 2.950, the price may continue to drop towards $ 2.860 or the level of FIB’s re -imitation by 61.8 % for the upward wave from an increase of $ 2.6560 to an increase of $ 3.214. The next main support sits near the $ 2.750.
Technical indicators
MACD clock – MacD is now losing XRP/USD and pace in the upscale area.
RSI clock (RSI) RSI for XRP/USD is now less than 50.
Main support levels – $ 3.00 and $ 2.950.
Main resistance levels – $ 3.150 and $ 3.20.
