Ripple (XRP): price, diagram and technical analysis
- Wave technology adopted by the main US financial institutions.
- The XRP rally changes the technical perspectives.
Ripple's short-term outlook (XRP) seems late [19659005] La rec has increased in buying interest for the third largest cryptocurrency has pushed Ripple to a new high two months back and through the old resistance levels. Heavy purchases were triggered by the news that a division of PNC Financial Services will use Ripple technology, xCurrent, to process international payments. At this point XRP will not be used, but Ripple hopes that banks will adopt xCurrent technology and that XRP will be used as a means of payment.
This week's rally from $ 0.275 to $ 0.480 broke the prospects of the negative chart and removed areas of resistance. The model of lower and lower lows has also been fragmented and should support this last move higher. On the four-hour chart, XRP now trades above all three moving averages – a bullish asset – although care should be taken with the RSI indicator currently in overbought territory. The next resistance level is between $ 0.52 and $ 0.55
One of our most popular articles on this topic explains Lower Highs / Higher Lows in more detail and how market sentiment changes – the highest minimum and sell the high minimum
Four-hour price chart by ripple (12 July – 21 September 2018)
IG Retail Sentiment [19659005] shows that traders remain very long XRP with a long-to-shorts ratio of 18.86 to 1 (95%). Find out how daily and weekly position changes can affect traders' sentiment.
Cryptocurrency Trader Resources – Accounts, guides, indicators of sentimentality and free practice webinars
If you are interested in negotiating Bitcoin, Bitcoin Cash, Ethereum, Litecoin or Ripple we can help you start your journey. We have a Introduction to the Bitcoin Trading Guide together with a Free demo Account so you can practice trading on this volatile asset class.
What is your opinion on Ripple ? Share your thoughts and ideas with us using the comments section at the end of the article or contact me on Twitter @ nickcawley1 or via e-mail to nicholas. [email protected].
— Written by Nick Cawley analyst .
