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Daily BTC / USD chart:
The largest altcoin by market capitalization, Ripple's XRP, was trading in a range of around $ 0.29 to $ 0.31. This is due to the fact that Bitcoin has found a strong support around $ 3300 and there is a growing momentum of the buyer seen by the daily MACD and the increase in RSI.
Daily XRP / USD chart:
XRP currently trades around $ 0.3. From $ 0.29 to $ 0.31 it was an important trading interval for XRP as market downturns slowed. The XRP will probably follow the Bitcoin market leader from this point. If Bitcoin records upward movements, it is likely that the XRP will move from the upward range. If Bitcoin breaks under the support of $ 3400 it is currently trading at; it is probable that XRP will be interrupted below the interval in which it is negotiating.
In the event of an increase, the XRP is expected to meet resistance at $ 0.35. this level has served as an area of support and resistance in the last months of trading activity.
If the XRP breaks below, the next level to monitor is the 2018 minimum of XRP, which is about $ 0.25. This is an important point because it is the minimum of 2018, as well as being an area of liquidity purchase on two previous drops at this level, as seen on the daily chart above.
Chart XRP / USD 60 min:
The hourly chart shows the interval in which XRP has been negotiated in detail. The few occasions when price action has moved outside the range has led to a rapid return of prices within. The bullish movements of the last 24 hours have led XRP to move from one side of the field to approach the center.
Key Takeaways:
- XRP was traded in a range of $ 0.29 to $ 0.31.
- Whatever the way out of the range, it is likely to depend on the Bitcoin market leader who has recently shown bullish movements after reaching a level of support.
- $ 0.25 is the key level to monitor if XRP breaks down.
- $ 0.35 is the key level to monitor if XRP moves up.
| NOTE: Investing or negotiating digital assets, such as those present here, is extremely speculative and involves considerable risks. This analysis should not be considered an investment advice, use it for information purposes only. The historical performance of the assets discussed is not indicative of future results. Statements, analyzes and information on blokt and associated or associated sites do not necessarily correspond to the opinion of blokt. This analysis should not be interpreted as advice for purchase, sale or storage and should not be taken as approval or recommendation of a particular asset. |
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