Ripple has been experiencing a sideways trend below the stiff resistance for nearly three weeks and has remained range-bound between 0.36$ and %excerpt%.39 for the largest part. Technical Analysis By Grizzly The Weekly Chart: It appears that neither side is able to take assert convincing dominance in the market for XRP. The bulls need to flip the horizontal resistance at %excerpt%.39 (in red) to start a rally. The intersection of this resistance with the descending line (in yellow) has created a relatively strong barrier. Breaking this resistance could result in XRP charging at the subsequent target, which currently lies at %excerpt%.46. This would improve the overall structure and put bulls back on track. However, if the bears get the upper hand, the cryptocurrency could revisit the support
Topics:
CryptoVizArt considers the following as important: Ripple (XRP) Price, XRP Analysis, xrpbtc, xrpusd
This could be interesting, too:
Jordan Lyanchev writes How High Can Ripple (XRP) Go With Gary Gensler Out of the Picture? (AI Bots Analyze)
George Georgiev writes Ripple (XRP) Price Pumps 5% Following News that Gary Gensler Will Quit
Dimitar Dzhondzhorov writes Top Ripple (XRP) Price Predictions as of Late
Dimitar Dzhondzhorov writes Important Binance Announcement Affecting Certain XRP, ADA, and DOGE Traders: Details
Ripple has been experiencing a sideways trend below the stiff resistance for nearly three weeks and has remained range-bound between 0.36$ and $0.39 for the largest part.
Technical Analysis
By Grizzly
The Weekly Chart:
It appears that neither side is able to take assert convincing dominance in the market for XRP. The bulls need to flip the horizontal resistance at $0.39 (in red) to start a rally. The intersection of this resistance with the descending line (in yellow) has created a relatively strong barrier.
Breaking this resistance could result in XRP charging at the subsequent target, which currently lies at $0.46. This would improve the overall structure and put bulls back on track. However, if the bears get the upper hand, the cryptocurrency could revisit the support at $0.33 (in green).
Key Support Levels: $0.33 & $0.28
Key Resistance Levels: $0.39 & $0.46
Daily Moving Averages:
MA20: $0.44
MA50: $0.71
MA100: $0.69
MA200: $0.48
The XRP/BTC Chart:
Against Bitcoin, the price is struggling with descending line resistance (in red) and horizontal resistance at 1700 SATs (in yellow). From the bottom side, the 100-day moving average (in white) acts as a support line. The structure is bearish in the short term as we can see both lower highs and lower lows taking place. A close below 1500 SATs will trigger a corrective wave. On the other hand, if the bulls push XRP above 1,700 SATs, it will probably extend to the next target at 2,000 SATs.
Key Support Levels: 1500 SATs & 1370 SATs
Key Resistance Levels: 1700 SATs & 2100 SATs
