Ripple Expected to Rise 30% Towards Key Resistance
Aktualisiert
Ripple has found the bottom at $0.57 while forming a bullish divergence on the RSI oscillator. Price went up and broke above the downtrend trendline, that is 2/1 Gann Fan trendline, resulting in a 115% recovery from the bottom.
XRP/USD started the consolidation between $0.89 and $1.25, although since 11th of February it looks like a slightly ascending trend. Yesterday price attempted to break below the uptrend trendline, although failed to close below, suggesting the Ripple should continue to move higher.
The nearest resistance is at $1.45 which appears to be the key price to watch for and confirmed by two Fibonacci retracement levels, 76.4%, and 161.8%. Break above should confirm the continuation of the long-term uptrend and will invite big buyers to participate.
On a downside, the nearest support is at $1, where daily break and close below might send Ripple back to $0.6-0.9 area.
XRP/USD started the consolidation between $0.89 and $1.25, although since 11th of February it looks like a slightly ascending trend. Yesterday price attempted to break below the uptrend trendline, although failed to close below, suggesting the Ripple should continue to move higher.
The nearest resistance is at $1.45 which appears to be the key price to watch for and confirmed by two Fibonacci retracement levels, 76.4%, and 161.8%. Break above should confirm the continuation of the long-term uptrend and will invite big buyers to participate.
On a downside, the nearest support is at $1, where daily break and close below might send Ripple back to $0.6-0.9 area.
Kommentar
Ripple trading at the support, lets see if it holds
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