CryptoSignals News

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do
eiusmod tempor incididunt ut labore et dolore.

Join Our Telegram

Ripple (XRP) Retraces but May Hold Above the $1.08 Support

October 13, 2021

#Price Analysis#RIPPLE#XRP#XRP/USD

Ripple (XRP) Long-Term Analysis: Bullish
Since October 10, Ripple’s (XRP) price has been in a downward move. The altcoin has been retracing from the high of $1.20 as it reaches the low of $1.08. The candlestick has fallen above the 50-day line SMA. XRP will resume an uptrend if the 50-day line SMA support holds. The crypto will retest or break the $1.20 resistance which will catapult it to the high of $1.40. However, the selling pressure will resume if the 50-day line SMA is breached. That is, the market will decline to the low of $1.03.

Ripple (XRP) Indicator Analysis
Ripple is at level 52 of the Relative Strength Index period 14. The altcoin is in the bullish trend zone and capable of a further upward move. The crypto’s price is above the moving averages which indicates a further upward movement of the crypto. XRP is below the 20% area of the daily stochastic. The altcoin has fallen to the oversold region of the market. Further selling pressure is unlikely. Buyers are likely to emerge in the oversold region.

XRP/USD – Daily Chart

Technical indicators:
Major Resistance Levels – $2.00, $2.50, $3.00
Major Support Levels – $1.50, $1.00, $0.50

What Is the Next Direction for Ripple (XRP)
On the 4- hour chart, Ripple fell to the support above $1.08 low. There bullish candlesticks indicating a possible upward move. Meanwhile, on October 10 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that XRP price will fall to level 1.618 Fibonacci extension or $1.05.

XRP/USD – 4 Hour Chart

You can purchase crypto coins here. Buy Tokens

Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Join Our Free Telegram Group

We send 3 VIP signals a week in our free Telegram group, each signal comes with a full
technical analysis on why we are taking the trade and how to place it through your broker.

Get a taste of what the VIP group is like by joining now for FREE!

Join Our Telegram