- XRP/USD changes a phase and gains momentum again.
- It is very important to see the pull-back range when you run out of fuel.
Ripple continues its ballistic trajectory towards the orbit of the Crypto universe. The magnitude of the surge could place Ripple above Ethereum as the No. 2 digital coin and this is impressive, to say the least. The distance that separates the two cryptocurrencies is a mere $200,000 as both are valued at around $23 billion at the time of writing.
The XRP/USD currently trades at the $0.58 price level, adding more than 100% to over its closing price on September 17th, or in other words: it is worth double.
On the daily chart, the XRP/USD has just surpassed the SMA200, moving upwards in the medium term. The breadth of the indicators suggests that the movement still has potential to rise.
The target is maintained at the $0.80 price level. Resistance levels are seen at $0.60 and $0.63 (price congestion resistance).
Support levels aat $0.584 and $0.548 (price congestion support).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of 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, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.