Ripple Price Technical Analysis (XRP / USD) Tuesday, 18 September 2018



The trading day advances with a major recovery for XRP Ripple, an increase of more than 19% causes the XRP token to move back above $ 0.32. The increase was sudden so we recommend caution to those who have been analyzing the item for a long time since a pullback is near.

From the fundamental factor, there is no good news on the sudden increase in XRP, one of the interesting news tells us that one of the major banks in Saudi Arabia has started negotiations to use the Ripple network (RippleNet) so this price increase may be temporary.

Important points

  • Ripple increases by 19%
  • Movable stocks are still far from a bullish cross
  • Wild increase of the RSI

When we analyze the XRP / USD table we can see the "wild" increase of CSR from one moment to another, this makes us think that, said increase in the price of XRP is due to a fundamental movement and / or to the movement of the token massively , so it becomes a profit-taking point for many investors who were doing hold or waiting for an increase to exit the market.

Analyzing the displacement of the averages and the RSI we can note that, said movement does not have a basis for saying that there is a change in trend, but rather a temporary increase in price as we have seen above.

<img class = "size-full wp-image-10159" src = "" alt = "1 Day XRP / USD Chart [19659013] XRP / USD 1 Day Chart

At this time the RSI moves above 55%, so the price could go up to $ 0.35 by touching the top of the channel Donchian before making a pullback

Technical indicators [19659007] RSI (relative strength index) above 55%

  • Exponential moving average EMA 9/26 bearish
  • Donchian channel 15, 15, 1 [19659008] Main Support $ 0.26
  • Higher Resistance $ 0.43
  • [19659022] Disclaimer

    Analysis for information purposes, they do not purport to be investment advice, each investor is responsible for their investment. what you can afford to lose.

    [ad_2]Source link