Ripple Price (XRP) Facing Uphill Task, Can Bulls Make It?

2019-9-17 07:08

Ripple price is still struggling to surpass the main $0.2650 resistance area against the US dollar. The price is showing a few positive signs, but it must break the $0.2650 resistance level. There is a major breakout pattern forming with support near $0.2585 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could either rally above $0.2650 or it might resume its decline below the $0.2580 level.

Ripple price is trading well below the $0.2650 resistance against the US Dollar, and ranging vs bitcoin. XRP price could soon make the next move either above $0.2650 or towards $0.2500.

Ripple Price Analysis

In the past 2-3 weeks, XRP price made many attempts to surpass the $0.2650 resistance area against the US Dollar. However, the bulls failed to gain momentum above $0.2640 and $0.2650. On the other hand, Ethereum was able to break the $185 resistance area to start an upward move. Therefore, ripple bulls need to gain pace above $0.2650 to start a solid upward move in the coming days.

The last swing low was formed near $0.2566 and the recent high was near $0.2628. At the moment, the price is correcting lower below $0.2610 and trading well above the 100 hourly simple moving average. An immediate support is near the $0.2600 level. It coincides with the 50% Fib retracement level of the recent wave from the $0.2566 low to $0.2628 high.

The main support on the downside is near the $0.2590 level and the 100 hourly simple moving average. Additionally, the 61.8% Fib retracement level of the recent wave from the $0.2566 low to $0.2628 high is near $0.2590. More importantly, there is a major breakout pattern forming with support near $0.2585 on the hourly chart of the XRP/USD pair.

Therefore, ripple price seems to be preparing for the next major break either above $0.2650 or towards $0.2500. This time, the chances of an upside break above $0.2650 are high. If the bulls gain control above $0.2650, the price could climb higher significantly towards $0.2850 or even $0.3000 in the near term. Conversely, if it fails again near $0.2650, there could be a fresh decline towards the $0.2500 support.

Looking at the chart, ripple price is confined in a broad range below the $0.2650 resistance. There could be more ranging moves, but sooner or later, the price is likely to break the $0.2650 resistance area.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is currently placed nicely in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is correcting lower towards the 50 level.

Major Support Levels – $0.2600, $0.2580 and $0.2550.

Major Resistance Levels – $0.2640, $0.2650 and $0.2720.

The post Ripple Price (XRP) Facing Uphill Task, Can Bulls Make It? appeared first on NewsBTC.

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Ripple (XRP) на Currencies.ru

$ 0.5283 (-0.21%)
Объем 24H $807.677m
Изменеия 24h: -1.50 %, 7d: 2.98 %
Cегодня L: $0.5238 - H: $0.5331
Капитализация $29.286b Rank 7
Цена в час новости $ 0.2687 (96.61%)

price xrp ripple resistance make uphill facing

Источник: newsbtc.com

price xrp → Результатов: 126


Фото:

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2024-5-23 02:00


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Famous expert in technical analysis, @egragcrypto, has given some easy-to-understand insights about the cryptocurrency XRP, highlighting that its price might make a big move soon. In his latest look at XRP, he talks about the chances of big changes in price and points out a coming “liquidity storm,” which he calls “The Perfect Storm.

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XRP is currently undergoing a notable price correction, with a 24-hour decline of 2. 2% and a seven-day slump of 12. 1%, bringing its price to $0. 61 according to CoinGecko.   However, amidst this downturn, prominent crypto YouTuber and XRP analyst, Alex Cobb, has set an ambitious price target of $10 for the digital asset, employing the Elliott Wave Theory to analyze its monthly price chart.

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