XRP/USD technical analysis: Market crawls along at $0.317 with no significant movements


XRP/USD daily chart

  • XRP/USD opened at $0.317 this Saturday.
  • This Friday’s session crept above the long-running downward trending line.
  • Short-term resistance lies at $0.321 which the bulls need to breach to maintain upward momentum.
  • The moving average convergence/divergence (MACD) shows that the market has very low volatility and momentum.

XRP/USD 4-hour chart

  • The 4-hour XRP/USD chart had a bullish breakout from the green cloud of the Ichimoku indicator.
  • The market is currently consolidating in a flag formation as it gets ready for a possible breakout.
  • The Elliot wave oscillator has shown bullish behavior in the last five sessions.

XRP/USD hourly chart

  • The hourly XRP/USD market has been trending above the 20-day simple moving average (SMA 20), SMA 50, and SMA 200.
  • The last two sessions found support at the SMA 20 curve, keeping the market in the upper half of the 20-day Bollinger band.

Key Levels

  • Resistance 3: $0.3275
  • Resistance 2: $0.3239
  • Resistance 1: $0.3206
  • Pivot Point: $0.3170
  • Support 1: $0.3136
  • Support 2: $0.3100
  • Support 3: $0.3067


 

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: BTC/USD attempts a recovery, still well below critical $10,000

Bitcoin (BTC) has recovered from the recent low of $9,234 to trade above $9,500 by the time of writing. However, despite the recovery, the first digital coin is still down 11% on a day-on-day basis and substantially below psychological $10,000. 

More Bitcoin News

Ripple CEO responds to Trump tweets and Mnuchin conference

Brad Garlinghouse, the CEO of Ripple, responded to President Donald Trump’s recent tweets on cryptocurrency and Secretary of Treasury Steve Mnuchin’s press conference. Garlinghouse took to Twitter to firstly state that he didn’t believe that cryptocurrencies pose a threat to Fiat currencies.

More Ripple News

Retail Investors Can Now Bet on Bitcoin Hitting $100,000 by 2020

This bullish bet on Bitcoin is the first crypto derivatives product open to mom and pop investors since LedgerX sealed approval from the U.S. Commodity Futures Trading Commission (CFTC) to serve as a designated contract market for clients of any size, as Cointelegraph reported in June. 

More Bitcoin News

Litecoin price analysis: LTC/USD bulls desperate to push the price above $81.00

Litecoin collapsed to $76.46 on Tuesday amid global sell-off on the cryptocurrency market. The coin lost one position in the global cryptocurrency rating, now it is the fifth largest coin with the current market capitalization of $4.9 billion and an average daily trading volume over $3 billion.

More Litecoin News

Bitcoin Weekly Forecast: BTC bulls get ready for a major assault

The cryptocurrency market has been pretty volatile this week. Bitcoin stayed in the green zone despite wild price gyrations, while major altcoins are nursing double-digit losses on a week-on-week basis.

Read the weekly forecast

BTC

ETH

XRP