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Ripple (XRP) Price Showing Positive Signs: ETH, BTC Gaining Strength
Ripple price traded higher recently and broke the $0.3950 and $0.4120 resistances against the US dollar.The price tested the $0.4200 resistance area and it is currently correcting gains.There is a connecting bullish trend line forming with support at $0.3850 on the hourly chart of the XRP/USD pair (data source from Kraken).The pair remains supported on dips and it could bounce back after testing the $0.3980 or $0.3950 support.Ripple price is showing positive signs above $0.3950 against the US Dollar, while declining vs Looking at the chart, ripple price is clearly trading with a positive angle above the $0.3950. In the short term, there could be range moves above $0.3980 or $0.3950. However, the correction could complete near $0.4000 or $0.3950 before a fresh increase. On the upside, the bulls are likely to take control above the $0.4200 pivot zone.Technical IndicatorsHourly MACD – The MACD for XRP/USD is currently gaining strength in the bullish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower from the overbought zone to 65.Major Support Levels – $0.4000, $0.3980 and $0.3950.Major Resistance Levels – $0.4150, $0.4200 and $0.4320.
Author: Aayush Jindal
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