• Cryptocurrencies: 2286
  • Markets: 19018
  • Market Cap: $366104730806.95
  • 24h Vol: $102122079534.62

XRP flirts with Resistance : $0.62 on Horizon

BREAKING. FOR IMMEDIATE RELEASE AND INFORMED TRADE DECISION

What does the Technical Analysis suggest for XRP today? 

  • On the lower time frames of 2H – XRP seems ready to breakout to retest $0.62 this is as a result of appearing to be in a bullish triangle pennant.
  • The RSI Stochastic is oversold, just crossing-over several moments ago. This could mean that XRP will breakout out of the triangle and above $0.55 at the minimum.
  • Accumulation as a result of individuals taking profit slowed down and the uncertainty as to where the volume is coming from. However it does appear that a breakout of the triangle will force traders to fomo back into a position.
  • A move higher than $0.55 would force the MA’s to cross-over allowing the $0.62 valuation to be instantly met.
  • There is heavy buy-side in favour of $0.55
  • Market sentiment is increasing every hour for XRP to shoot off
  • This trade is a heavy trade with a lot of the market involved.

Where does Nouvive see XRP going for the rest of the week? 

Bullish Bias:

  • 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.

Bearish Bias: 

  • 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 Forecasts XRP, awarding it a BUY at current levels to $0.79

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

Show Your Views:
  •  (0)
  •  (0)
  •  (0)
  •  (0)
1553

ViFeed Indicators

Bitcoin (BTC)
$12619.01
48.00 RSI
11.48%
Hold
Ethereum (ETH)
$345.45
57.00 RSI
11.01%
Hold
XRP (XRP)
$0.49
61.00 RSI
5.10%
Hold
Bitcoin Cash (BCH)
$510.65
67.00 RSI
8.21%
Hold
Litecoin (LTC)
$138.11
60.00 RSI
3.38%
Hold
EOS (EOS)
$7.43
59.00 RSI
4.28%
Hold
Binance Coin (BNB)
$37.34
26.00 RSI
1.99%
Buy
Bitcoin SV (BSV)
$245.62
67.00 RSI
3.31%
Hold
Tether (USDT)
$1
61.00 RSI
0.17%
Hold
Cardano (ADA)
$0.1
55.00 RSI
7.07%
Hold
Whats Your Bias this Week?