2018-12-12 18:48 |
BTC/USD Daily Chart: Bitcoin Daily Chart – Source: Tradingview.com
The largest altcoin by market cap, Ripple’s XRP, has been trading in a range from around $0.29 to $0.31. This comes as Bitcoin has found strong support around $3300 and there is increasing buyer momentum seen by both the daily MACD and RSI rising.
XRP/USD Daily Chart: XRP Daily Chart – Source: Tradingview.comXRP currently trades around $0.3. From $0.29 to $0.31 has been an important trading range for XRP as the drops across the market have slowed. XRP will likely follow the market leader Bitcoin from this point. If Bitcoin records bullish movements, it is likely XRP will break from the range to the upside. If Bitcoin breaks below the $3400 support it is currently trading at; it is likely that XRP will break below the range it is trading in.
In the event of a rise, XRP will be expected to meet resistance at $0.35. this level has served as an area of both support and resistance over the past few months trading activity.
If XRP breaks below, the next level to monitor is the 2018 low of XRP which is around $0.25. This is an important point due to it being the 2018 low as well as being an area of buying liquidity on two previous drops to this level as seen on the daily chart above.
XRP/USD 60-Min Chart: XRP Hourly Chart – Source: Tradingview.comThe hourly chart shows the range XRP has been trading in in closer detail. The few occasions that price action has moved outside the range resulted in price quickly moving back within. The bullish movements over the past 24 hours have resulted in XRP moving from around the bottom of the range to close to the center.
Key Takeaways: XRP has been trading in a range from $0.29 to $0.31. Whatever way it breaks out of the range is likely to depend on the market leader Bitcoin which has been showing more bullish movements recently after reaching a support level. $0.25 is the key level to monitor if XRP breaks to the downside. $0.35 is the key level to monitor if XRP moves to the upside. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.Ripple’s XRP Continues Range Trading As Market Leader Bitcoin [BTC] Finds Support was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
Similar to Notcoin - Blum - Airdrops In 2024
Ripple (XRP) на Currencies.ru
|
