- Ripple’s XRP price is trading has seen a major downtrend, down by around 5%
- 1D MACD indicator is showing bullish pressure
- The current support is at $0.247. The current resistance is $0.265
1 hour XRP/USD price chart
The level of support at $0.265 was broken on high momentum yesterday and XRP lost around 5% of its value. At the moment XRP/USD pair is trading sideways. Current support at $0.247 was tested several times with immediate pullback back into the consolidation area. During those tests several low tail candlesticks were formed on a chart, suggesting weakening bearish pressure.
Current MACD indicators on one hour and 15-minute charts also suggest that demand for cryptocoin is rising. If bears will not apply more pressure in the short term it is very likely that we could soon see an upward price spike, at least to a zone of previous support of $0.265 which currently a new resistance.
Chart source: Tradingview
Disclaimer: Markets, instruments and advices on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. Ripplecoinnews does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. Investing in Cryptocurrencies involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.
Credit: Source link