XRP Surges 16% in Five Days, Here’s the Next Target (Ripple Price Analysis)

Ripple has seen a remarkable 16% growth in the past five days and reached highs of $0.36 today. This doesn’t mean the bearish trend is over.

Technical Analysis

By Grizzly

The Daily Chart

The bulls once again proved their resolve to keep the price above $0.3 (in yellow). The next resistance is $0.38 (in yellow). XRP has been in a sideways trend since June 22, when buyers couldn’t break the resistance of its descending line (in yellow). Also, this means that the pair has reached lower highs since June 22.

The horizontal resistance at $0.38 is currently overlapped with the red resistance. Bullish sentiment will be further strengthened if the zone is closed and broken above. The 200-day moving mean, currently at $0.511, might be tested in that scenario.

The current structure is technically not bullish. Uptrends will only last until the price breaks the consolidation zone. If this is a fakeout, and the price falls below $0.3, support can also be found at $0.24.

Key Support Levels $0.30 & 0.24 Key Resistance Levels $0.38 & $0.43

Daily Moving Averages: MA20 – $0.33 MA50 – $0.35 MA100 – $0.35 MA200 : $0.51

Source: TradingView

The XRP/BTC Chart

After hitting the resistance zone between 1700 and 1800 SATs, the green momentum against BTC (in red) was stopped. It began on August 14th and continued for 25 days. After the bears drove the cryptocurrency down 11% over the past four days, the price crossed the 200-day moving median (in white). The bullish structure clearly has changed. The horizontal support of 1500 SATs (in red) could be retested. If Bitcoin continues to outperform altcoins, it is possible for the pair to slip below the support zone.

Key Support Levels 1650 SATs and 1500 SATs Key Resistance levels 1800 SATs and 2100 SATs

Source: TradingView

CryptoPotato’s first post, XRP Gains 16% in Five Days (Ripple Price Analyse), appeared first on CryptoPotato.

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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.

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