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XRP Daily Analysis: The Ride Up

XRP or Ripple has made several successive Higher Highs, Higher Lows equating to Bullish Behaviour. A break of yesterdays local high or resistance could see $0.328.

What does the Charts Say? 

Bullish

  • XRP has made 3 Higher Highs, Higher Lows or Successive Bullish patterns on the higher time frame, illustrating a reversal from the lows.
  • Market sentiment previous waning over the past week, broke out yesterday printing a 12% interest increased.
  • Accumulation increased during the same period of times based on news about XRP’s partnership with R3 conglomerate.
  • A touch of the trend line, with a bounce up; will be re-testing the previous resistance, a break of that could see yesterday’s resistance filled at $0.319 following positive buy-side support.
  • RSI and MACD illustrate that they are gearing up on all-time frames for another move up.

Bearish

  • Bearish trader/investors could see the same pattern as a rising wedge or a chart pattern that with bearish/negative sell side supply, break the trend line; this could see XRP falling trying to catch a support.
  • Support levels for those who are bearish can be seen at $0.303 & $0.0300.

Nouvive Says: XRP last year during the same period of time started the bull run, we can see the same thing occur this year (history tends to repeat itself). Nonetheless, today, XRP is MORE THAN LIKELY to see a 1% move with a breakout and market fill at $0.31.9 to make a 3.68% move.

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