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Technical Analysis

Technical Analysis XRP/USD 25/2/2018

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ripple price usd analysis

At the time I write this technical analysis, XRP/USD is in a corrective wave. This corrective wave is very important. The current corrective movement will determine whether the market will become a bull in a short time, or whether the consolidation period will take a few months and then become a bull. For the time being, XRP/USD has found strong resistance in the $1.25 area. This area became R1 -$1.25 .

This is also due to the fact that after reaching $11800, Bitcoin began a corrective wave.  From TA’s point of view, the corrective movement on Bitcoin is normal. After reaching the downward trendline, Bitcoin began a corrective wave. If Bitcoin stops in the $8000-$9000 zone and then there will be a recovery move completed by breaking down the downline, it will be fine. It will confirm the bull market trend.

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Any Bitcoin fall in the $6000-$7000 area will be a weakness, and the bull (short-term) trend will be momentarily invalidated. In this case, consolidation will take some time and a comeback of the bull market may take a few months.

The resistance lines are:                                                 The support lines are:

R1 –  1,25 USD                                                                    S1 –  0,65 USD

R2 –  1,4  USD                                                                      S2 –  0,50 USD (psychological)

R3 –  1,72 USD                                                                     S3 – 0,25 USD

xrp usdt 25

What can we expect in the next week?

Considering the scenarios above, on XRP/USD the corrective wave should stop in the 0.70-0.80 USD range. If the corrective wave stops in that area and then there will be a recovery movement with the R1-1.25 USD break, it will be fine. The bull trend will be confirmed on the XRP/USD parity. If XRP/USD will descend in the 0.60 – 0.70 USD area, there will be evidence of weakness, and the return of the bull market may take a few months.

On the 12-hour chart, the MACD is in the positive area (above line 0) but a few days ago a  signal to sell appeared. The probable move for the next period is drawn in yellow.

In conclusion of the technical analysis, I will remind you that Cuallix official site was launched the Cuallet tool. Cuallet uses the XRapid and XRP currency in cross-border payments. Basically, this is the first live use of XRP in cross-border payments. The news has not yet been taken over by the news sites on the Internet and the price has not been influenced in any way.

Founder and Editor of RippleCoinNews.com. Passionate about how technology can empower people to create a more just and sustainable world. Don't like authorities that are ruled by international corporations. love traveling, Hate my phone :(

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