XRP Breaks Two-Month Resistance, Trend Still Unconfirmed

2020-11-14 10:12

Since the beginning of September, XRP has been trading in a range of $0.23-$0.26 with the exception of a slight deviation below the support area on Sept 19.

Yesterday XRP finally closed a daily candle above this range at $0.265. It continued climbing in the early morning hours to reach $0.28 but has since pulled back to $0.272.

If XRP continues to rally, the next closest resistance area would be found at $0.295.

XRPUSD Chart by TradingView

Technical indicators in the daily time-frame are bullish but do not yet confirm a bullish trend.

Both the RSI and MACD are increasing, the former being above 50 and the latter above 0. Their slopes are gradual and the Stochastic Oscillator has not yet made a bullish cross.

Another daily close above this resistance area would likely mean that XRP will continue moving up to $0.29.

XRPUSD Chart by TradingView Future Movement

The shorter-term 4-hour chart shows that the price has been trading inside a parallel ascending channel since Sept 24.

Movement contained inside a parallel channel is often corrective, which could mean that the current increase is corrective rather than the beginning of an upward trend.

A breakout from the channel would invalidate this scenario and may take the price towards the previously mentioned $0.295 resistance area.

XRPUSD Chart by TradingView XRP/BTC

Cryptocurrency trader @gordongekko369 outlined an XRP/BTC chart,  which shows the price in a downward trend. However, he predicts that the trend will soon reverse and XRP/BTC will begin to move upwards.

Source: Twitter

The XRP/BTC chart shows a rapid decrease that has been going on since the beginning of October, during which the price has lost nearly 30% of its value.

The decrease has temporarily halted and XRPBTC has created a double bottom near 1,565 satoshis. This is normally considered a bullish reversal pattern. Furthermore, the pattern is combined with a bullish divergence in the RSI, making it more likely that the price will reverse.

If so, the closest resistance area would be found between 1,880-1,980 satoshis.

However, the lack of horizontal support makes it more difficult to confidently predict a reversal.

XRPBTC Chart by TradingView

For BeInCrypto’s latest Bitcoin analysis, click here!

Disclaimer: Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. The views expressed in this article do not reflect those of BeInCrypto

The post XRP Breaks Two-Month Resistance, Trend Still Unconfirmed appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.526 (+0.26%)
Объем 24H $1.773b
Изменеия 24h: -1.03 %, 7d: 1.43 %
Cегодня L: $0.5222 - H: $0.5382
Капитализация $29.084b Rank 7
Цена в час новости $ 0.2664 (97.45%)

xrp range sept support deviation below area

Источник: beincrypto.com

xrp range → Результатов: 126


Market Watch: Bitcoin, Ethereum, XRP, And TRON (TRX) Sees Sudden Price Jump

In what can be called an unexpected price hike ,pump or Manipulation ? bitcoin has climbed over 10% in price in less than 24 hours, towards the end of yesterday 15th October 2018 bitcoin was at then $6,300 range now it’s at the $7000 range currently dangling in the $6900+ region and still showing bullish […] The post Market Watch: Bitcoin, Ethereum, XRP, And TRON (TRX) Sees Sudden Price Jump appeared first on ZyCrypto.

2018-10-15 10:50


XRP Crashes 40% From September High

This year has been a strange one for XRP (and digital currency in general!), the token has seen fluctuation after fluctuation and the price has never stayed in one area for a long period of time. The token, owned and designed by Ripple, has recently seen a change in price over the past month and even a time when we thought that the bad times were essentially over but now it has crashed down by over 40% from its high in September of $0.

2018-10-11 12:30


Ripple (XRP) Struggles To Break Past 21 EMA Against Bitcoin (BTC), Price Likely To Remain Range Bound For Now

Ripple (XRP) is currently trading within a tight range against Bitcoin (BTC). The price broke the resistance at 45,860 satoshis earlier this month but soon afterwards, it retraced. Initially, the 45,860 satoshis resistance turned into support as the 4H chart above for XRP/BTC shows that Ripple (XRP) formed two red candles after the resistance break.

2018-9-9 22:31


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

XRP Searches for Support After Rejection from Resistance

XRP has been increasing since bouncing at the $0.62 long-term horizontal support area at the end of July. So far, it has reached a high of $1.35. The post XRP Searches for Support After Rejection from Resistance appeared first on BeInCrypto.

XRP Reclaims Support, EOS and TRX Look to Do the Same

XRP is trading inside a long-term descending parallel channel and has reclaimed the $0.90 horizontal area after bouncing. The post XRP Reclaims Support, EOS and TRX Look to Do the Same appeared first on BeInCrypto.