Ripple [XRP] Holds Support but Can It Break Out?

2018-10-25 18:24

XRP has appreciated since the listing of 0x Project, ZRX, to Coinbase Pro. Many investors believe the third-ranked cryptocurrency by total market cap stands a legitimate chance of being the next asset listed to Coinbase Pro.

The price of XRP is currently trading around $0.45. Price has been holding support around the daily 50 EMA but also consolidating along with the market leader Bitcoin. However, the price action we are seeing now could also be forming a lower high and be preceding another sharp drop like the one we seen in September after a bearish divergence formed between price and RSI.

XRP Daily Chart – Source: Tradingview.com

The reality is a lot probably depends on Bitcoin. Although XRP has a strong community behind it with many vouching for its value, Bitcoin represents over 53% of the total market cap of all cryptocurrencies, and its movements have a significant impact on those of altcoins.

There are a few independent developments which would result in XRP making bullish movements. Although the anticipation of a listing to Coinbase Pro seems to be priced in for XRP, an actual listing would result almost definitely result in significant appreciation. Known as the Coinbase effect, cryptocurrencies listed to Coinbase then have substantial spikes in price after listing.

Significant partner listings for Ripple’s products tend to have a bullish impact on price. As Ripple develops its suite of products, investors belief in the potential of XRP increases.

With Bitcoin approaching the end of a triangle pattern it has been forming since January, those interested in the price of XRP should monitor the price action of the market leader for breakouts but also keep an eye out for key news developments for Ripple.

Bitcoin Approaches End of Triangle Pattern. Bitcoin Daily Chart – Source: Tradingview.com Key Takeaways: XRP has appreciated since the listing of 0x Project to Coinbase Pro with many investors believing XRP could be the next asset listed. XRP is currently consolidating and is experiencing some support at the 50 EMA. Traders interested in the price action of XRP should monitor both the price action of Bitcoin and key news developments for XRP. 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 [XRP] Holds Support but Can It Break Out? was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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Ripple (XRP) на Currencies.ru

$ 0.5175 (+0.21%)
Объем 24H $1.08b
Изменеия 24h: 2.32 %, 7d: -1.19 %
Cегодня L: $0.4975 - H: $0.5175
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Цена в час новости $ 0.447 (15.77%)

xrp support price coinbase ripple around cryptocurrency

Источник: blokt.com

xrp support → Результатов: 126


Ripple’s XRP Chart Is ‘Not Looking Good’: Could Dip 60% More if This Support Breaks

A popular crypto analyst on X, known as @ChartMonkeyBTC, has issued a dire warning about the future price trajectory of Ripple’s XRP token. According to the analyst’s technical analysis, XRP’s chart is “not looking good,” and the cryptocurrency could potentially dip by a staggering 60% from its current levels if a critical support level fails […] The post Ripple’s XRP Chart Is ‘Not Looking Good’: Could Dip 60% More if This Support Breaks appeared first on CaptainAltcoin.

2024-4-19 23:30


XRP Wrestles with Support, Hoping for a Reversal

The Ripple (XRP) price has retraced all the way back to an important support level. If the support holds and can give XRP a bounce, there is a lot of room to the upside for the price to go. XRP Long-Term Breakout At the beginning of July, the XRP price broke out from a long-term […] The post XRP Wrestles with Support, Hoping for a Reversal appeared first on BeInCrypto.

2020-9-8 16:11


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