Bullman close: the Ripple will go up?
Source:Now, every extra cent on the graph can play a crucial role in the growth or downfall of cryptocurrencies. At Ripple has all the chances to overcome the resistance of sellers in segment a pair of cents. After that you can build a theory about the beginning of the new local uptrend.
The Overall situation looks like this:
the-
the
- after the recent drain, the XRP price was adjusted up almost to the level of 0.45 per dollar; the
- on 1-hourly chart the bulls managed to break through the line local downward trend; the
- in the near future may be a small pullback before the jump above the line 0,45 dollar.
At the moment, XRP is trading at 45 cents over the last day altcon grew by 1.45 percent. Market capitalization exceeds 18.3 billion dollars, while the daily trading volume of $ 360 million.
theTechnical analysis
Yesterday another small pullback from the line of 0.44 dollars. The Ripple price has fallen slightly (only one cent), but buyers quickly increased the tempo and pushed up the asset. After all price movements to the bulls managed to break through the line local downward trend at the scale of 1-hourly chart.
Some time Later the pair came trading just above the resistance at line 0.45 dollar and 100 moving average SMA. However, to gain a foothold on new levels Ripple and failed, so altcon again fell back down. Now he goes in a very narrow price corridor just above its key resistance (on H1 chart).
image Source — NewsBTC
For up to 50 and 75 cents asset is not enough interested buyers. First of all, they need «clear» resistance formed in the area of 46 cents.
Unfortunately, the technical indicators indicate a high probability of a new pullback. MACD gradually comes to the bearish zone and the RSI is barely above average. It is recommended to refrain from opening a trading position in XRP.
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