The price of XRP recovered most of the losses and increased over 25%. The price has returned above USD 2.65, and now it encounters obstacles near USD 2.820.
- The price of XRP has started a mighty upward movement above USD 2.50.
- The price is currently listed below USD 2.80, and a 100-hour elementary movable average.
- There was a break over the Bear Trend Line with a resistance of USD 2,420 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The couple can start a up-to-date growth if they pristine the $ 2.820 resistance zone.
The price of XRP recovers over 25%
The price of XRP started again a decrease below the $ 2,850 zone, such as Bitcoin and Ethereum. The price has fallen significantly below the support levels 2.50 and USD 2,350. Bears even pushed him below $ 2.00.
There was a acute decrease by over 25%, and the price tested the 1.75 USD zone. The low was created at USD 1.75, and the price has recently started a acute recovery wave. Bulls pumped the price above USD 2.20 and 2.50. There was a traffic above 61.8% of the downward FIB withdrawal level from $ 3.155 to the lowest level with a value of USD 1.750.
In addition, there was a break over the connecting bear trend line with a resistance of USD 2,420 on the chart of the hourly pair of XRP/USD. The price is currently listed below USD 2.80, and a 100-hour elementary movable average.
On the other hand, the price may encounter resistance near USD 2.80. The first sedate resistance is close to USD 2,820 and slimming level 76.4% FIB down fib down from a height of USD 3.155 to a low level of USD 1.750. The next resistance is USD 2,940.
A clear movement above the resistance worth USD 2,940 may send a price up to USD 3.00. Any profits can send a price towards the resistance of USD 3.050, and even USD 3,120 in the near future. Another significant obstacle for bulls can be 3.20 USD.
Another drop?
If XRP does not pristine the $ 2.820 resistance zone, it may start another decrease. Initial support in the minus is close to USD 2.620. Another sedate support is near USD 2.50.
If there is a break in the minus and closing below USD 2.50, the price may still fall towards USD 2.450 support. Another gigantic support is located near the USD 2,350 zone.
Technical indicators
MacD – MacD for XRP/USD is now gaining a pace in the stubborn zone.
RSI hours (relative strength indicator) – RSI for XRP/USD is now above level 50.
Main support levels – USD 2,620 and USD 2,450.
Main resistance levels – USD 2.80 and USD 2,820.
