Ripple’s price has been rallying rapidly over the recent weeks, making its way toward a new all-time high. Yet, there are some warning signs that could lead to a correction soon. By Edris Derakhshi (TradingRage) The USDT Paired Chart On the USDT paired chart, the price has been surging aggressively since breaking above the 200-day moving average, located around the %excerpt%.55 mark. Both the and .4 levels have also been broken to the upside, with the market approaching the resistance zone and potentially a new all-time high. However, the RSI is showing a massive overbought signal, which could result in a correction or deep pullback soon. In this case, the area could be counted on as a potentially strong support level to prevent a complete trend reversal. Source:
Topics:
CryptoVizArt considers the following as important: Ripple (XRP) Price, XRP Analysis, xrpbtc, xrpusd
This could be interesting, too:
Jordan Lyanchev writes Ripple Price Eyes as XRP Goes Parabolic: Who Is Behind This Rally?
Dimitar Dzhondzhorov writes Key Ripple Metrics Head North: Is the XRP Price Ready for Another Rally?
CryptoVizArt writes Calm Before the Storm for XRP? Price Looking to Resume Rally Above .6 (Ripple Price Analysis)
Jordan Lyanchev writes 0M in Liquidations as Bitcoin Dumps Below K, Ripple Down 10% Daily
Ripple’s price has been rallying rapidly over the recent weeks, making its way toward a new all-time high. Yet, there are some warning signs that could lead to a correction soon.
By Edris Derakhshi (TradingRage)
The USDT Paired Chart
On the USDT paired chart, the price has been surging aggressively since breaking above the 200-day moving average, located around the $0.55 mark. Both the $1 and $1.4 levels have also been broken to the upside, with the market approaching the $2 resistance zone and potentially a new all-time high.
However, the RSI is showing a massive overbought signal, which could result in a correction or deep pullback soon. In this case, the $1 area could be counted on as a potentially strong support level to prevent a complete trend reversal.
The BTC Paired Chart
The XRP/BTC daily chart shows a similar picture. The market has been rallying consistently after breaking above the 200-day moving average, located around the 900 SAT mark, and the long-term bearish trendline.
The price has also broken above the 1500 SAT level and is currently moving higher toward the 2,200 SAT resistance zone.
Yet, the RSI is once again showing an overbought state for the market, so a correction seems likely in the coming weeks.
