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Technical Analysis

Technical Analysis XRP/USD 06/09/2017

Arthur Webb

Last updated



ripple analysis

The downward movement from the XRP / USD parity stopped at 0.185usd. This movement temporarily broke S1 $0.19 USD, after which the price went up slightly. XRP / USD stayed in sync with the BTC move. The return movement is identical to that on the BTC.

Yesterday I posted a quick update on our Twitter page, which said that the next support area on the BTC is at $3900 usd. Here’s how the BTC has reached that price and then has a comeback. On the 4-hours XRP / USD chart, we have a buy signal given by the MACD indicator. I would be quite cautious about this signal. At the time we write the analysis (hour 0) we do not have a clear signal from the BTC that the correction would have ended.

READ  Technical Analysis XRP/USD 05/04/2018

 The resistance lines are:                                               The support lines are:

           R1 –  0,23usd                                                                    S1 – 0,19usd

           R2 –  0.30usd                                                                    S2 – 0,175usd

                                                                                                      S3 – 0,15usd

xrp analysis today

Probable direction for the next two days: 

The XRP / USD moves will be top-down, characterized by the price quest to find a balance point around these levels. We will test the R1 $0.23 usd area, after which a correction will occur. The evolution of the XRP / USD price over the next two days will also depend on the BTC move.

It remains to be seen if the correction wave that follows will go below $0.185 usd or will stabilize above S1 $0.19 usd

READ  Ripple Now Outperforms Rivals as Bitcoin, Ethereum on Adoption, Decentralization and Transparency

Any positive news about Ripple, or negative movements of the Bitcoin price, may positively or negatively influence this technical analysis.

Arthur Webb: passionate about how technology can empower people to create a more just and sustainable world.

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