XRP / USD Technical Analysis 17/08/2018


Last week, after the 0.42 usd support line was blocked, the price fell to 0.25 usd. I said then that the 0.30 usd will be a strong support zone, but not inauspicious if there are panic sales on the market. Basically, we came back to the area where XRP was between June and December 2017. At that time, the price ranged from 0.15 to 0.30 usd. Bitcoin tries to keep the support line above 6000 USD, but XRP shows great weakness and falls further down.

XRP / USD – resistance lines: XRP / USD – support lines:

R1 – 0.42 USD S1 – 0, 15 USD

R2 – 0.50 USD S2 – 0.10 USD (psychological)

R3 – 0.70 USD

 poloniex xrp usdt

What's happening on XRP / USD next week? [19659004] As you can see (blue arrow) on the chart, after the price has reached 0.25 usd, an inverted Doji Star candle has formed. This candle indicates an inversion of the trend. The likely direction for the next week is up to the resistance R1- 0.42 usd. It is unlikely that the price will break R1-0.42 usd. Probably the price will be rejected at 0.42 usd and the downward trend will continue

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