Ripple Price Analysis: XRP/USD moved into striking range
- After a visit to the lower extension of the channel, Ripple is again positioned for price increases.
- XRP/USD is in a sweet moment that should manage to monetize.
- Closing above $0.485 would activate launch mode.
Yesterday's day was a bit strange, where important climbs did not obtain technical rewards. Ripple has achieved it although it is, for now, a partial victory. A second boost will be needed to surpass the price level of $0.485 and then exceed the SMA200 by $0.518. The Stop level must be $0.455.
In order to achieve these goals and surpass them broadly, Ripple has a growing list of business agreements and, according to recent news, possible support from the Trump administration. The current U.S. administration would see Ripple and their XRP as the American business model in the Blockchain industry. US candidate to challenge China's dominance in this business.
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Below the protection level, possible shortcuts with targets at the price level of $0.443, followed by $0.428 and then at $0.40 where the SMA100 offers support.
The MACD in the daily range is favorable to price increases, although it will still take several days for a possible bullish cross to materialize.
The DMI in the daily range shows the Bulls beating the Bears and also the ADX. This configuration is very fragile and it is likely that the price will experience falls in an environment of increased volatility.
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Author
Tomas Salles
FXStreet
Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland.
