Ripple’s XRP Price Analysis – Market Spikes After Bearish Week

2019-1-14 19:19

XRP Daily Chart – Source: Tradingview.com

After a bearish wrap-up to last week, the price has started to recover over the last hour.

Market prices are spiking, and many cryptocurrencies are coming up to test key levels.

After forming a descending triangle last week, XRP broke bearish and dropped below key levels at both $0.35 and $0.335.

$0.35 had long acted as a support level, and $0.335 was an area of liquidity on a prior drop below $0.35.

The recent spike has brought the price back up to test $0.335 which now seems to have turned from a support level into a resistance level.

XRP Hourly Chart – Source: Tradingview.com

The recent price action on the hourly shows how the price is behaving in regards to the levels.

On the initial drop below $0.35, price met support at $0.335 but dropped below on the retest.

After consolidating just below the $0.335 level after dropping below, the price had followed up with another drop, but the recent spike has brought it back to the level where it is currently meeting some resistance.

If the next significant move is a drop, an important indication for price prospects will be whether price forms a lower low or a lower high.

Key Takeaways: After forming a descending triangle pattern last week, the price dropped below two key levels – $0.35 and $0.335. The price has since come back up to test $0.335 as resistance. If price drops from here, it will be important to monitor whether it forms a higher high or higher low. Latest Ripple News:

Ripple’s XRP Breaks Below Key Levels but Remains Largest Altcoin

Could Ripple Really Take on the Banks With 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’s XRP Price Analysis – Market Spikes After Bearish Week was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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Ripple (XRP) на Currencies.ru

$ 0.52 (-0.36%)
Объем 24H $1.197b
Изменеия 24h: -1.37 %, 7d: 0.41 %
Cегодня L: $0.519 - H: $0.5274
Капитализация $28.835b Rank 7
Цена в час новости $ 0.3313 (56.96%)

week bearish xrp price market ripple levels

Источник: blokt.com

week bearish → Результатов: 126


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2019-1-14 18:58


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