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Ripple like the rest of the market dropped to its recent lows of $0.26600 as a result of Bitcoin falling from $7200.
One interesting thing we noted is that despite the high correlation between Bitcoin/Ethereum and Ripple, whilst the rest of the market has been bleeding. XRP has shown resistance and perservance.
This is most likely owed to the community spirit who have high hopes in XRP leaving it to a cult-like experience. Which means they believe heavily in Buy the Dip mentality and HODL.
Where will Ripple go over the week?
Nouvive has found support at $0.27, this is when Bitcoin dropped to $6150, which means that it will be used as our temporary support level.
There is a bullish like pattern on XRP, that is entirely dependent on Bitcoin, a crash to $6150 would mean a perfect purchase point at $0.27.
The Moving Average to watch out for with XRP is currently the 15MA that can be seen as a resistance and support level for XRP.
Based on the movement of Bitcoin, Nouvive recommends a buy at $0.2715-0.2750 before taking profit at $0.282 for 4.24% profit.
Moreover, the RSI Stochastic indiciator is illustrating a current turn of tides – illustrating that we are about to see bullish price action with XRP.
Nouvive recommends a buy from $0.27250-0.2750 with the first stop limit at 0.267, increasing stop limits in profit.
Nouvive recommends a take profit at 0.282.
This represents an 8% move over 3 Days.
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