Ripple Technical Analysis XRP/USD 27/05/2018
Here’s how the price has moved in slow-motion in the last week. As anticipated in the latest technical analysis, the price did not break down the $7000 area on Bitcoin and $0.55 on XRP. From these levels we anticipate an upward movement. This move has not yet begun, but I’m confident that next week we will start an upward move to $10000 on Bitcoin and $1 on XRP. You can see below on the Bitcoin chart that this downward movement of up to $7200 is actually a new upward trend line test.
This upward trend line represents a very important support on Bitcoin. We can see that on the Bitcoin chart a symmetrical triangle pattern was formed. Generally this pattern is neutral. He can not tell us a clear direction. The tip of the triangle can end with a downward movement, or a move up. This time I think the triangle will end with a move up.
The reason for a upward movement is precisely the ascending support line at the bottom of the triangle pattern. It is quite unlikely that this support line is broken down. Also, considering that prices are cheap, a price increase is more likely than a decrease.
XRP/USD – lines of resistance : XRP/USD – lines of support:
R1 – 1 USD (psychological) S1 – 0,45 USD
R2 – 1,25 USD S2 – 0.30 USD
R3 – 1,4 USD
What’s happening on XRP / USD next week?
So for the next week I think we will have a brief consolidation period in the range 7000-7500 usd after which we will start a moving move. XRP/USD will have a consolidation move in the 0.55-0.64 USD range, after which an upward movement will begin.
Ripple Releases 1 Billion XRP Tokens as the Token Outperforms Most Other Cryptocurrencies
XRP Outperforms Top 10 Crypto Coins as Ripple’s CEO Expects the Lawsuit to be Decided in Weeks
The Role of Artificial Intelligence in Crypto Trading
90% of Business Leaders Believe Crypto to Have Significant Impact on the Business, Ripple Reports
XRP Records Inflows While Investment in Crypto Goes Down by $232 Million
Recent Press Release
5 Easy Loans to Get Approved For
Easy-to-approve loans are usually available within minutes or hours of your application. Unlike traditional banks and other lending institutions, lenders...
Maximizing Passive Income with NFT Investments and Cloud Mining
NFTproX is an innovative platform for buying and selling NFTs (Non-Fungible Tokens), which utilizes blockchain technology to provide investors with...
Easy Cloud Mining Passive Income with Gbitcoins
With the rise in the wide adaptability of cryptocurrencies, there is an emerging need to generate ways to earn from...
Top 15 Ways to Invest in Cryptocurrency
Investors invest in cryptocurrency because they think that as a particular cryptocurrency’s value increases, so will demand it. You can...
Stay on Top of Your Crypto Game with Live Coin Watch Mobile App
After a successful launch of its popular iOS app, Live Coin Watch is thrilled to unveil its mobile app for...