The volatility in ripple (XRP) has been immense in the last 7 days. Currently, it trades around $ 0.52290. In the five day chart, it appears that an upward channel model is forming. When this rising channel pattern is broken on both sides, it can lead to a significant price movement. Price movement is similar to channel width. The channel width is currently 7.49%. This indicates that there may be a similar proportion move once the channel is broken on both sides. We analyze the technical pricing of the ripple (XRP) on September 28, 2018 to find more.
Technical analysis of Ripple prices (XRP) September 28th 2018:
The lower trend line currently stands at around $ 0.5151. (Refer to the table above for graphical representation of all levels.) The current price of Ripple (XRP) around $ 0.5229 is close enough to the lower trend line. On the upper side, the upper trend line is traded around $ 0.552. In an ascending channel model, if the price movement is within the two trend lines, the price of the asset will be higher. On the other hand, if the channel is broken on both sides, there is a significant movement in the respective direction. Therefore, if you are looking to reduce ripple (XRP), it is important to keep a clock at the levels of $ 0.5151. If that level is broken, you can think of going short. On the upper side only when $ 0.55288 is broken you can think long. The objectives on both sides can be kept at a 5% conservation level. Stoploss can be included in 1.5% of breakout levels.
One thing you have to keep in mind is that instead of starting a trade on an impulse, you have to learn the price incurred beyond the levels we have mentioned. Only when it is able to sustain over these levels, it will be easier for you to trade the breakout.
Also, you must always confirm the break with the help of RSI and volume. Only when you are able to use these additional indicators to confirm the exchange can you be sure that it will be easier for you to avoid false transactions. The model alone could lead to a false triggering factor, but when you are able to complete the trade along with the other indicators, it will become much easier for you to trade the breakout in the right way. Also, keep in mind that the general tendency of Ripple (XRP) in the last two weeks has been positive. This is why the chances of a long successful business are at the top compared to a short one.