XRP Sustains Solid Momentum To $0.37 In All-Green 7-Day Climb

2022-7-29 19:10

Ripple (XRP) has walked the last mile after it waded lows at $0.326 and surged by 16% in the last 48 hours. While everything is looking green and bullish, XRP is still faced with the $0.381 resistance, and if the coin fails to shoot over that means a correction is looming.

A candlestick close that goes under $0.381 can debunk the bearish outlook for XRP. Ripple price showed colossal strength as it ricocheted off a support zone that hereinafter triggered a bullish streak seen in the past two days. 

While it was looking extremely bullish as it was able to sustain its momentum at $0.37, investors can’t be overconfident as the recent rally could lead to a retracement or an extension.

XRP Pulls Off 16% Surge In 48 Hours

Ripple price was able to puncture right below the trend line which indicates buying pressure has paused. Even so, Ripple was able to pull around after soaking it up at $0.326. This evidently stirred up a 16% surge in a little over 48 hours.

XRP price may either go above $0.381 and make that as a support line or possibly retrace and retest the $0.340 zone.

Looking at the current market sentiment, a retracement is more likely to happen if the BTC price goes for a u-turn. In effect, the XRP price can always fall back to the $0.340 support zone. Now, if the barrier or resistance zone is breached, the Ripple price may plunge to the $0.326 level.

However, in the event that Ripple price forms a daily candlestick that goes above o$0.381, then this invalidates the bearish confluence. With this development, the XRP price can spike towards $0.439.

Can XRP Go Around The Bearish Divergence Pattern?

Ripple is currently painting a bearish divergence formation which should be taken seriously. The only way to go around the divergence is for the XRP price to plunge or if the XRP price can successfully increase and bypass the invalidation point seen at the $0.48 line.

A warning was recently issued on July 26 as the XRP price was jilted from a trend line that dates back to April of last year. In effect, a $0.24 target was announced which is based on Fibonacci and Elliot Wave projections.

On July 27, the Ripple price was seen to go into reverse with an upsurge in volume and an extreme bullish candle. Moreover, a 3-day morning star pattern was formed which encourages traders to remain glued to bullish targets.

XRP price may go as high as $2 or even $10 one fine day. However, right now, being overconfident about this can be extremely risky profit-wise.

XRP total market cap at $17.9 billion on the daily chart | Source: TradingView.com Featured image from Medium, chart from TradingView.com

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Ripple (XRP) на Currencies.ru

$ 0.5256 (-0.60%)
Объем 24H $1.04b
Изменеия 24h: -0.04 %, 7d: -1.61 %
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xrp still faced bullish looking everything green

Источник: newsbtc.com

xrp still → Результатов: 126


Фото:

Market Update – BTC, XRP & BCH, Mixed Messages But Markets Still Positive

After a pretty solid week of gains and positive movements, we enter this new week on a positive note. Values are up and as it stands, things look pretty promising as we head into August. We are now in a position in which we may very well see, for the first time in a couple of months, a number of cryptocurrencies make way back up to their target figures.

2018-7-30 12:03


‘Expert’ states XRP [XRP] is a security, Ripple adopted a “wrong regulatory approach”

The XRP [XRP] token is under regulatory scrutiny, as its status has not yet been decided by the United States Securities and Exchanges Commission [SEC]. Even as Bitcoin [BTC] and Ethereum [ETH] have been safe from being declared as securities, the status of the third largest cryptocurrency is still mired in confusion. This is reflected […]

2018-7-20 14:27


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