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Ripple Price Analysis: XRP/USD hourly chart trends horizontally as price volatility goes down

  • Short-term resistance lies at $0.2143 and $0.2165.
  • The MACD indicates that market momentum in the hourly chart is about to experience a bearish reversal.
Ripple Price Analysis: XRP/USD hourly chart trends horizontally as price volatility goes down
Rajarshi MitraRajarshi MitraIndependent Analyst

XRP/USD hourly chart

XRP/USD hourly chart

XRP/USD has gone up from $0.2116 to $0.213. The hourly chart has repeatedly been testing resistance at the downward trending line before the latest candle finally managed to peak above. The hourly price had previously dropped after encountering resistance at $0.2356. Following the drop, the price has relatively stabilized itself. Short-term resistance for the bulls lies at $0.2143 and $0.2165. On the downside, short-term support levels are at $0.2116 and $0.2092. The signal line is looking to cross above the MACD line, to reverse bearish momentum, while the Elliott Oscillator had a green session after three consecutive red sessions. The Bollinger Band has narrowed considerably, indicating decreasing price volatility.

Key levels

XRP/USD

Overview
Today last price0.2136
Today Daily Change0.0019
Today Daily Change %0.90
Today daily open0.2117
 
Trends
Daily SMA200.194
Daily SMA500.1787
Daily SMA1000.2171
Daily SMA2000.2287
 
Levels
Previous Daily High0.2358
Previous Daily Low0.2084
Previous Weekly High0.1999
Previous Weekly Low0.1784
Previous Monthly High0.2358
Previous Monthly Low0.1684
Daily Fibonacci 38.2%0.2189
Daily Fibonacci 61.8%0.2253
Daily Pivot Point S10.2015
Daily Pivot Point S20.1913
Daily Pivot Point S30.1741
Daily Pivot Point R10.2288
Daily Pivot Point R20.2459
Daily Pivot Point R30.2561


 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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