BREAKING. FOR IMMEDIATE RELEASE
CMC, one of the largest Capital Markets Brokers have enabled Spread-Betting and CFD trading for Ripple, better known and traded as XRP. This allows an additional 11 Million users to trade XRP.
What does this mean for technical Analysis
- The bulls have positive momentum in their favour – especially considering there will be an increase of positive fundamental news in the next few weeks.
- Increased buy-side support especially considering it is constantly breaking resistance levels.
- RSI Stochastic is unable to cross-over despite being over-brought – it is believed by Nouvive Research that RSI Stochastic will not work in the next coming weeks.
- It is believed that considering its positive momentum it will break the current resistance that is $0.53 – if that happens – $0.62 is next on the cards with $0.79 occurring thereafter.
- Currently on the higher time frames using the $0.53 as support – INCREASINGLY BULLISH
- The XRP run will be stopped at some point.
- RSI Stochastic is illustrating over-brought
- If it is unable to break through the $0.53 resistance level – this will show a double top and it will fall past $0.42.
Nouvive Re-Forecasts XRP, awarding it a BUY at current levels to $0.79
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