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Ripple Price (XRP) Showing Positive Signs, Could Break $0.34
Ripple price remained well supported on the downside near the $0.3200 level against the US dollar.The price traded higher and broke the $0.3250 and $0.3320 resistance levels.There is a key bullish trend line forming with support at $0.3265 on the hourly chart of the XRP/USD pair (data source from Kraken).The price is likely to continue higher, with chances of an upside break above $0.3350 and $0.3400.Ripple price is trading with a bullish bias against the US Dollar, similar to Looking at the chart, ripple price seems to be trading in a positive zone above the $0.3300 and $0.3250 support levels. As long as there is no close below $0.3250 plus the 100 hourly SMA, the price could continue to rise. On the upside, the first target for the bulls could be $0.3400, above which there are chances of a run to $0.3500.Technical IndicatorsHourly MACD – The MACD for XRP/USD is slowly gaining pace in the bullish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently placed nicely above the 50 level.Major Support Levels – $0.3260, $0.3220 and $0.3150.Major Resistance Levels – $0.3400, $0.3440 and $0.3500.
Author: Aayush Jindal
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