Jump around the corner. When Ripple will continue to grow?
Source:
Price action looks very promising. Cryptocurrency is likely to continue its growth in the long term. Recall that in this month, the XRP was a rare Aldona, who struck a long-term trendline on the 1 day chart.
The Overall situation looks like this:
the-
the
- short-term downtrend line is also broken. Asset fixed above; the
- to continue rally coin can once again fall back to the nearest level of support; the
- the level of 61.8 Fibonacci now serves as a support area, technical indicators are indicative of the presence of bulls in the market.
At the moment the Ripple is trading around 0.45 per dollar. For the past day, the cryptocurrency has risen nearly 2 percent.
theTechnical analysis
The Path of least resistance for Ripple — the roll down. This is indicated by line 100 SMA, which is now under the 200-SMA on the 1 hour chart. The bears still have a chance to continue the downward price movement. However, the distance between the moving average gradually narrowed, so that a bullish crossover may occur in the near future.
200-SMA is now coincides with the 61.8 Fibonacci level, which serves as a good support. If the bulls manage to hold this level, the price Ripple will jump up to 53 cents.
Technical stochastic indicator have recently emerged from the oversold zone, indicating that the return bulls on the market. In this case between the indicator and the price has formed a bullish divergence, so soon XRP could rapidly grow.
On the other hand, the RSI is said about the indecision of traders. If this indicator drops even lower, we can expect short-term pullback to the level of 0.4 per dollar.
image Source — NewsBTC
Recall that one of the main reasons for the growth of Ripple in this month's main updates to the project xRapid. On the background of positive news anonymous insider even the growth of cryptocurrencies to 589 USD in the long term.
Analysis of schedules prepared . More promising altcoins can be found in our .
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