Price analysis of undulations: XRP / USD reacts to the two-pronged model; the upward trend slows down

  • Slight recovery in the price of undulations that faces critical obstacles amid declining volumes of trade.
  • The 50SMA (15th graph) at $ 0.3268 and the 100SMA (same chart) at $ 0.3250 are vital support areas .

higher on weekends (Saturday) and approaching $ 0.3320. However, the trend returned lower, but the declines that followed were stopped above the $ 0.32 support. Buyers entered this position by reporting the price above the Fib 61.8% retracement level, with the previous high of $ 0.3316 and a minimum of $ 0.3193. The bulls lost their grip again by failing to cancel resistance at $ 0.330.

Bear corrections this time passed the $ 0.320 support while heading for $ 0.310, the crypt stood at a low of $ 0.3193. Ripple traded higher highs with higher lows, as well as offsetting the moving average resistance (both the 100SMA and the 50SMA) close to $ 0.3228 paved the way for a net rise above 61.8% resistance (broken support) at $ 0.3269.

formed a double scheme above $ 0.331. It is also making lower corrections in response to the model. The XRP / USD is positioning itself on a short-term uptrend flag support for $ 0.3280. It is likely that the price will continue to fall, for now. The MACD is in positive territory but heads south abruptly. Immediate resistance is at $ 0.33 while the key resistance is at $ 0.332 (marginally above the double top scheme).

On the downside, if the bull flag model yields to increasing sales pressure; c & # 39; is a support line at the Fib 61.8% level. The 50SMA (15th graph) at $ 0.3268 and the 100SMA (same chart) at $ 0.3250 will also offer support.

Ripple is the third largest cryptographic project in the industry with a market capitalization of $ 13 billion. The slight recovery continues to hit significant obstacles that lead to a series of lower corrections. Trade volumes have plummeted considerably in the last days from $ 244 million on August 24th to $ 189 million at the time of writing.

XRP / USD 15-minute chart

Get the 5 most predictable currency pairs

Source link