Key Highlights Ripple price declined sharply, but the $0.4340 support acted as a solid support against the US dollar. There is a connecting bearish trend line formed with resistance at $0.4485 on the hourly chart of the XRP/USD pair (data source from Kraken). Ripple Price Analysis There was yet another rejection noted near the $0.4600 level in ripple price against the US Dollar.
The price surpassed a major bullish trend line with support at $0.4550 on the hourly chart. The current price action is positive above the 50% Fib retracement level of the last decline from the $0.4603 high to $0.4263 low. On the upside, the price may face sellers near the $0.4500 level.
There is also a connecting bearish trend line formed with resistance at $0.4485 on the hourly chart of the XRP/USD pair. Besides, the 61.8% Fib retracement level of the last decline from the $0.4603 high to $0.4263 low is at $0.4473. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is back above the 50 level.
https://www.newsbtc.com/2018/10/30/ripple-price-analysis-xrp-usds-downside-thrust-and-reversal/
Topic: [2018-10-30]Ripple Price Analysis: XRP/USD’s Downside Thrust and Reversal (Read 139 times)
October 30, 2018, 02:47:58 AM
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