The main highlights
- The price of germanium formed a key bottom around 0.4588, higher against the US dollar.
- XRP/USD has support at $0.5000 on the hourly chart (data from Kraken).
- The exchange rate may continue to rise, and may even exceed the level of 0.5200 US dollars in the short term.
Ripple prices show positive signs against the U.S. dollar and Bitcoin. The XRP/USD is currently located above the 0.5000 USD and is expected to break the 0.5200 USD level.
ripple, price, support
fell sharply, the ripple-to-us dollar price had strong buying interest above $0.4500. The price formed a key bottom around 0.4588 and started moving up. It broke the resistance of $0.4800 and $0.5000 to set the pace of more gains. On the upside, breaking the previous 38.2% Fib retracement level, it dropped from the 0.5538 high to a low of 0.4588.
At present, the price is much higher than the level of 0.5000 USD and the simple moving average of 100 hours. However, it is struggling to reduce the 50% retracement level of the previous decline from the 0.5538 high to a low of 0.4588, which is 0.5060-80 USD. A breakthrough of $0.5080 may open the door for testing at $0.5200. If the buyer stays in action, it may even break the $5200 level. The next hurdle above $0.5200 may be the 76.4% reversal level that last fell from $0.5538 to a low of $0.4588.
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