- XRP saw a small 1.5% price increase over the past 24 hours of trading as it reaches $0.24.
- It has been bouncing around within a range between $0.24 and $0.228 for the past week of trading.
Bitcoin finally managed to climb back above $8,900 as it brings the rest of the market higher. XRP saw a 1.5% price increase as it heads back into the resistance at the $0.24 level.
The cryptocurrency managed to find support at a .886 Fibonacci Retracement level $0.228 to stall the latest price decline. Since reaching this level of support the cryptocurrency has been bouncing between $0.228 and $0.24 as it trades sideways within this trading range.
XRP remains the 3rd largest cryptocurrency with a total market cap valuation of $10.48 billion.
Market Overview:
Since our last analysis, XRP continued to struggle to break above the resistance outlined at $0.24. It continued to trade within the range between $0.24 and $0.228 over the past few days of trading and has recently just returned to the upper boundary.
Short term prediction: NEUTRAL
XRP remains neutral after establishing the aforementioned trading range. It would need to climb above $0.27 before we can even start to consider this market as starting to turn bullish. A break beneath the lower boundary of the range would turn the market bearish.
If the buyers break $).24, the first level of resistance lies at $0.251 (bearish .236 Fib Retracement). This is followed by resistance at $0.27 (bearish .382 Fib Retracement), $0.285 (bearish .5 Fib Retracement), and $0.30 (bearish .618 Fib Retracement).
Alternatively, the market should find strong support at $0.228. If it breaks beneath here, additional support lies at $0.22, $0.212 and $0.204.
Key Levels:
Support: $0.2281, $0.22, $0.218, $.212, $0.204, $0.20, $0.195.
Resistance: $0.24, $0.25, $0.251, $0.264, $0.27, $0.28, $0.285, $0.29, $0.30.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.