{"id":377709,"date":"2019-04-09T05:00:43","date_gmt":"2019-04-09T05:00:43","guid":{"rendered":"https:\/\/wncen.com\/?p=377709"},"modified":"2024-06-11T13:39:15","modified_gmt":"2024-06-11T13:39:15","slug":"ripple-xrp-price-analysis-inflection","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-xrp-price-analysis-inflection\/","title":{"rendered":"Ripple Price Analysis: XRP Trading Near Key Inflection Point"},"content":{"rendered":"
Ripple price is currently trading in a range against the US Dollar and bitcoin<\/a>. XRP seems to be preparing for the next move either towards $0.3700 and $0.3740 or below the $0.3480 support.<\/em><\/p>\n Recently, we saw a nice upward move above the $0.3500 level in ripple price against the US Dollar. The XRP\/USD pair even broke the $0.3650 resistance and the 100 hourly simple moving average. It climbed towards the $0.3800 level, but struggled to hold gains above the $0.3740 resistance. Later, there were a couple of attempts to surpass the $0.3740 resistance<\/a>, but buyers failed to gain traction. As a result, there was a downside correction below $0.3600 and the price started trading in a range.<\/p>\n It broke the 50% Fib retracement level of the upward move from the $0.3256 low to $0.3790 high. However, the $0.3480 support area acted as a strong support and prevented declines. There was also no break below the 61.8% Fib retracement level of the upward move from the $0.3256 low to $0.3790 high. Besides, there is a major bullish trend line forming with support near the $0.3510 on the hourly chart of the XRP\/USD pair. The pair is currently trading near $0.3550 and below the 100 hourly simple moving average.<\/p>\n There are two possible scenarios, with the pivot level at $0.3480. The price could bounce back and revisit the $0.3700 resistance level. Besides, a convincing break above the $0.3740 resistance may open the doors for more gains. Alternatively, there might be a downside break below the trend line and the $0.3480 support. In the mentioned bearish case, the price is likely to revisit the key $0.3250 support area.<\/p>\n <\/p>\nRipple Price Analysis<\/h2>\n