Ripple Price Analysis: XRP Sheds 10% Weekly but Potential Bullish Divergence Appears

The trend has been sideways for XRP for the past three weeks. The price fluctuates between $0.3 to $0.4. Some technical indicators indicate a possible divergence in bullish sentiment.

Technical Analysis

By Grizzly

The Daily Chart

The MACD daily chart shows that bearish momentum dropped in the short-term during previous drawdowns when the indicator formed a positive divergence (white rectangle). An interval when the price falls but the indicator tends to the upside is called a bullish divergence.

Often, the buyers prevail over the sellers shortly after the index crosses the bullish zone (above baseline). The indicator is currently in the bearish area despite the divergence (yellow rectangular). If the baseline is broken upwards, one can expect a rally to begin.

Key Support Levels are $0.30 and $0.24. Key Resistance Levels are $0.38 and $0.45

Source: TradingView

Moving Averages

MA20: $0.33 MA50: $0.37 MA100: $0.52 MA200: $0.64

The XRP/BTC Chart

XRP continues to struggle against BTC due to the resistance zone created by the intersection between the descending line (in red) and daily MA200 (in blue). This resistance zone is between 1700 and 1800 Sats. Since August 2021, Ripple’s price against Bitcoin has not crossed this resistance line. The buyers can push the price higher if they want it to. New buyers may be convinced that the price is on the right track to rise, which could lead to an acceleration in the upward trend.

Key Support Levels: 1500 Sats and 1250 Sats Key Resistance Levels, 1700 Sats and 1800 Sats

Source: TradingView
Read More

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami