Ripple Price Analysis: XRP/USD Rally Could Extend To $0.5310

2018-10-18 06:45

Ripple price is placed nicely above the $0.4560 and $0.4320 supports against the US Dollar. XRP/USD is likely to accelerate gains above the $0.4900 resistance zone.

Key Talking Points

Ripple price gained traction and moved above the $0.4320 resistance against the US Dollar. There is an ascending channel in place with support at $0.4650 on the 2-hours chart of the XRP/USD pair (Data feed via Bitstamp). XRP price may continue to rise towards the $0.4950, $0.5000 or $0.5310 resistance levels. Ripple Price Forecast

During the past few days, there was a slow and steady rise from the $0.3900 swing low in Ripple price against the US Dollar. The XRP/USD pair traded higher and broke the $0.4300 and $0.4500 resistance levels.

Looking at the chart, the price climbed higher and settled above the $0.4320 resistance levels. There was also a close above the $0.4500 level and the 100 simple moving average (2-hours).

During the rise, the price broke the 61.8% Fib retracement level of the last major drop from the $0.5006 high to $0.3714 low. The current price action is very positive, indicating more gains above the $0.4750 and $0.4800 levels.

The next key resistance on the upside could be the last swing high at $0.5006. If there is a break above this, the price could move towards the $0.5310 level, which is close to the 1.236 Fib extension level of the last major drop from the $0.5006 high to $0.3714 low.

At the outset, there is an ascending channel in place with support at $0.4650 on the 2-hours chart of the XRP/USD pair. The pair could decline a few points, but it remains well supported near the $0.4560 level.

Moreover, the most important support for ripple buyers is near the $0.4320 level and the 100 simple moving average (2-hours). As long as XRP/USD is trading above the $0.4320 support, it is likely to climb higher towards the $0.4800 and $0.5000 levels. The main target for buyers could be $0.5310.

The market data is provided by TradingView.

The post Ripple Price Analysis: XRP/USD Rally Could Extend To $0.5310 appeared first on Ethereum World News.

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Ripple (XRP) на Currencies.ru

$ 1.1028 (-1.87%)
Объем 24H $6.647b
Изменеия 24h: -1.62 %, 7d: 55.53 %
Cегодня L: $1.0851 - H: $1.1536
Капитализация $62.784b Rank 6
Цена в час новости $ 0.4643 (137.52%)

ripple price above xrp usd against dollar

Источник: ethereumworldnews.com

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