Ripple (XRP) Price Watch: Rejected with Range Resistance


Highlights of Ripple Price

  • Ripple has suffered a tear but is currently hitting an obstacle in its 1 hour time slot.
  • If the ceiling continues to hold up, the price may slide towards the bottom or lower mid-range area of ​​interest.
  • Technical indicators give contrasting signals on the maintenance or absence of field strength.

Ripple is currently testing the top of his visible range on the 1-hour time frame, still deciding whether

Technical Indicator Signals

The 100 SMAs have just passed the longer-term SMA limit to suggest that the path of least resistance is on the upside. In other words, the upward trend is more likely to resume rather than reverse. However, moving averages could simply fluctuate at this point as the price still moves sideways.

RSI is moving down to indicate that sellers could keep control, possibly pushing the price of Ripple on the bottom of the range near 0.3200 or at least halfway up to the area of ​​interest at 0.3300- 0.3350.

The Stochastic also heads south but approaches oversold levels, suggesting that sellers may soon sell out and allow buyers to take over. In that case, Ripple could make another attempt to break the top of the range.

XRPUSD Chart from TradingView

Ripple is stopping from his climb to the news that the new Morgan Creek Asset Fund has not included this particular altcoin. According to Anthony Pompliano, a member of Morgan Creek Digital:

"If there is a central party that owns 30% or more of an offer, then we keep those from the index." Because we think it introduces a lot of further risks that may not be there if it were a more decentralized network. "

This fund is supported by Morgan Creek's institutional investment house which currently manages $ 1.5 billion in assets. The index includes bitcoin, ethereum, bitcoin money, EOS, litecoin, zcash, monero, dash, ethereum classic and omisego.

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