Ripple price needs to regain ground above $0.30 resistance level to continue the bullish trend. Meanwhile, XRPUSD pair is currently moving within a short-term bearish trend.
Yesterday, November 4, the price of Ripple (XRP) price was in a bullish trend. The crypto’s price broke above the levels of $0.28 and $0.29 and settled above the $0.30 resistance level. As a result, Ripple price started correcting lower. At the time of writing, XRP is changing hands at the $0.29 level.
On the downside, a break below the $0.29 level could extend towards the $0.28 and $0.26 support level. On the upside, if more buyers emerge, the bulls will face resistance at the $0.32 and $0.33 price levels.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line which indicates a buy signal.
On the 1-hour chart, the XRP price is in a short term bearish trend. The pair is showing a lot of positive signs above the $0.2980 and $0.2992 support levels. As long it does not decline below $0.2980, there are high chances of more gains above the $0.3060 resistance in the short term.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
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