Ripple Coin Price Analysis: XRP Price Showing Strength, Bulls Trying to Maintain Momentum!

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  • XRP price might surge if it holds critical support levels. 
  • Indicators are in absolute favour of the bulls, more volume might help the bulls crash resistances. 
  • XRP/BTC is currently trading at 0.00002161 BTC with an intraday change of +1.41% while XRP/ETH is trading at 0.0003074 ETH with an intraday change of -3.05%.
Tradingview

XRP price is currently trading above the significant 100 and the 200 day moving averages but is below the 50 day moving average. This indicates that the momentum is in favour of the bulls and they have the task to break the 50 day moving average which is acting as resistance for the time being. If the price continues to stay above the 100 and the 200 day moving averages, we might see XRP price break the 50 day moving average in the days to come. 

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The Moving Average Convergence Divergence (MACD) is also referring to a buying interest among traders. Though both the MACD line and the signal are below the zero line, the MACD line is seen crossing the signal line from the bottom indicating a shift of interest among the traders. The histogram is also forming green bars showing buying interest. 

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The Relative Strength Index (RSI) is indicating a bullish momentum with the RSI line standing  above the normal zone. The RSI line is expected to bounce from here with more buyers jumping in.

Tradingview

The  Fibonacci indicator is suggesting an immediate support at the $1.0242 price level which the price was able to hold for the past two days. The $0.9262 and $0.8282 price level will also pose as support in the future. The resistance levels indicated by the fibonacci are $1.1638 and $1.3416. 

NOTE:  The moving average 50, 100 and 200 are in colour Yellow, White and Red.

The MACD line is coloured Blue while the signal line is coloured Red. 

The important support and resistance levels to keep an eye on are:

SUPPORT: $1.0242, $0.9262, $0.8282 

RESISTANCE: $1.1638, $1.3416

TAKEAWAY:  The technical indicators used above are sliding in favour of the bulls and we might witness XRP price break the 50 day moving average along with the resistance levels suggested by the Fibonacci in the near future if the price continues to hold above the 100 and the 200 day moving averages.

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