Ripple Price Analysis: XRP/USD Could Keep Rising

2018-11-1 11:05

Ripple price stayed above the all-important $0.4310 support against the US Dollar. XRP/USD is likely to clear the $0.4550 and $0.4740 resistances in the near term.

Key Talking Points

Ripple price is placed nicely above the $0.4310 and $0.4410 supports against the US Dollar. XRP/USD is currently testing a major contracting triangle resistance near $0.4515 on the 2-hours chart (Data feed via Bitstamp). XRP price remains buy on dips near the $0.4410 and $0.4310 support levels. Ripple Price Forecast

There were three failed attempts by ripple price to clear the $0.4740 resistance against the US Dollar. The XRP/USD pair declined recently and tested the all-important $0.4310 support area.

Looking at the chart, the price corrected lower recently and traded below the $0.4500 support and the 100 simple moving average (2-hours). However, the price found a strong buying interest once again near the $0.4310 level.

The stated $0.4310 support is significant as it prevented declines on many occasions and it also represents the 50% Fib retracement level of the upward move from the $0.3885 low to $0.4735 high.

The price bounced back recently and traded above the $0.4450 level. However, it failed to clear the $0.4550 resistance and declined back below the 100 simple moving average (2-hours). More importantly, there is a major contracting triangle in place with resistance near $0.4515 on the 2-hours chart of the XRP/USD pair.

If the pair breaks the triangle resistance and the 100 SMA, it could rally towards the $0.4740-50 resistance zone. A successful break above the $0.4740 resistance zone could open the doors for a larger upward move towards the $0.5000 and $0.5100 levels.

On the flip side, if there is a downside correction the price may decline back towards the $0.4410 support. The main support is at $0.4310 where buyers are likely to appear once again.

Overall, ripple price remains well supported above $0.4310. In the short term, there could be range moves before buyers push the price above the $0.4740 resistance.

The market data is provided by TradingView.

The post Ripple Price Analysis: XRP/USD Could Keep Rising appeared first on Ethereum World News.

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Ripple (XRP) на Currencies.ru

$ 0.5236 (+0.10%)
Объем 24H $944.801m
Изменеия 24h: 2.94 %, 7d: 3.30 %
Cегодня L: $0.5077 - H: $0.5246
Капитализация $28.95b Rank 7
Цена в час новости $ 0.5288 (-0.98%)

usd xrp ripple price 4310 against near

Источник: ethereumworldnews.com

usd xrp → Результатов: 126


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