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February 19, 2018, 10:38:44 AM |
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Last week, Ripple recovered well, the price was above $ 1.12 and $ 1.14, but it could not break the resistance $ 1.15. XRP peaked at $ 1.1508, and then began to move down. He broke the zone support $ 1.10 and dropped below the 100-hour SMA.
During the decline, a bullish trend line with a support at $ 1,0800 on the hourly chart of the pair XRP / USD occurred. However, the downward movement was protected by support at a rate of $ 1.0000. The minimum was formed at $ 1.0055, before the price began to move up. Now XRP is trading above the Fibonacci level of 23.6% of the last decline from 1,1508 to 1.0055 dollars. However, the upward movement was prevented by the level of $ 1.06 and 100-hour SMA. On the other hand, there is a bearish trend line with resistance at $ 1,0700 on the same chart.
Thus, the price movement above $ 1.06 and $ 1.07 will not be easy. On the other hand, the pair should remain above support of $ 1.00 to avoid further declines. Below $ 1.00, the price may drop to $ 0.8500 in the short term.
The MACD watch for XRP / USD is currently in the bearish zone.
The hourly RSI (Relative Strength Index) for XRP / USD is now well below level 50.
The main support level is $ 1.0000
The main resistance level is $ 1.0700
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