Ripple’s XRP Surges to Meet Key Resistance Area, Can it Continue Higher?

2018-12-19 18:19

XRP Daily Chart – Source: Tradingview.com

Ripple’s XRP started the week surging above the range it had formed from $0.29 to $0.31.

It continued past resistance at $0.35 and currently trades around $0.38.

$0.39 to $0.4 is the next important area to monitor, being an area of significant trading activity in the past and also being at a key psychological point for traders.

The intraday high of today’s trading was around $0.395 but has since reversed with buyers likely meeting significant selling pressure at $0.4.

This also corresponds with Bitcoin price approaching $4000 and reversing.

Conditions, however, are markedly more bullish with buyer momentum increasing.

The daily RSI and MACD, both measures of momentum, have been increasing.

XRP Hourly Chart – Source: Tradingview.com

The hourly chart shows XRP starting to reverse after entering the $0.39 to $0.4 area.

XRP has started to reverse already a number of times this week but has continued its increase each time.

The key pattern to monitor to gauge whether XRP can continue its increase is how it performs on the next rise.

If the next increase halts before $0.39, a lower high will be formed and a reversal from here will be significantly more likely.

Key Takeaways: XRP surges this week and enters a significant area of liquidity between $0.39 and $0.4. Price has since started to reverse, but momentum remains on the side of buyers with the daily MACD and RSI both increasing. Key chart pattern to monitor is whether XRP forms a lower high on its next price increase. 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 Surges to Meet Key Resistance Area, Can it Continue Higher? was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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Ripple (XRP) на Currencies.ru

$ 1.4617 (-1.34%)
Объем 24H $14.905b
Изменеия 24h: -4.24 %, 7d: 26.82 %
Cегодня L: $1.4586 - H: $1.4953
Капитализация $83.318b Rank 6
Цена в час новости $ 0.374 (290.83%)

area ripple xrp resistance key past being

Источник: blokt.com

area ripple → Результатов: 44


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