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November 19, 2019
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Ripple (XRP) Price Is Following Uptrend: BTC & ETH Continue To Struggle

  • Ripple worth began a contemporary enhance and it surged above $zero.3000 in opposition to the US greenback.
  • The worth is at the moment correcting larger after buying and selling to a brand new month-to-month excessive close to $zero.3040.
  • Earlier, there was a break above a declining channel with resistance close to $zero.2860 on the hourly chart of the XRP/USD pair (knowledge supply from Kraken).
  • The worth is slowly correcting decrease and it may discover bids close to the $zero.2940 and $zero.2920 ranges.

Ripple worth is shifting properly in a optimistic zone in opposition to the US Dollar and bitcoin. XRP worth stays in an uptrend above $zero.2900, whereas ETH and BTC are struggling.

Ripple Price Analysis

Yesterday, we noticed a draw back correction in ripple beneath the $zero.2850 assist space in opposition to the US Dollar. XRP worth traded as little as $zero.2783 and just lately began a contemporary enhance. It is up greater than four% and cleared many hurdles close to the $zero.2900 and $zero.2920 resistance ranges. Moreover, there was an in depth above the $zero.2900 stage and the 100 hourly easy shifting common.

During the rise, there was a break above a declining channel with resistance close to $zero.2860 on the hourly chart of the XRP/USD pair. The pair gained momentum above the $zero.2950 and $zero.3000 resistance ranges. A brand new month-to-month excessive is fashioned close to $zero.3040 and the worth is at the moment correcting. It is buying and selling beneath the 23.6% Fib retracement stage of the latest wave from the $zero.2783 low to $zero.3040 excessive.

On the draw back, a direct assist is close to the $zero.2940 stage. However, the primary assist is close to the $zero.2920 stage. Additionally, the 50% Fib retracement stage of the latest wave from the $zero.2783 low to $zero.3040 excessive can be close to the $zero.2915 stage to offer assist. If there are extra downsides, ripple worth may revisit the $zero.2880 assist space and the 100 hourly SMA.

On the upside, an preliminary resistance is close to the $zero.3000 and $zero.3020 ranges. If there’s a profitable shut above $zero.3020, the worth may surge above the $zero.3040 and $zero.3050 ranges within the close to time period. The subsequent cease on the upside is close to the $zero.3100 stage.

Looking on the chart, ripple worth is exhibiting numerous optimistic indicators above the $zero.2920 assist space. Therefore, there are excessive probabilities of a good upward transfer above the $zero.3000 within the coming classes. Only an in depth beneath $zero.2880 might maybe negate the present optimistic bias and begin a contemporary decline.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is gaining power within the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is at the moment correcting decrease in direction of the 50 stage.

Major Support Levels – $zero.2940, $zero.2920 and $zero.2880.

Major Resistance Levels – $zero.3000, $zero.3020 and $zero.3040.

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