Technical Analysis

Technical Analysis XRP/USD 26/12/2017

Last updated

6 years ago

April 5, 2018

At the time I write the technical analysis, the XRP/USD price is $0.97. After the upward movement of about 600%, the XRP/USD price has found its balance. The hesitant move of XRP/USD in recent days was due to a drop in the Bitcoin price. And yet XRP was very stable when compared to other currencies. This stability has increased over the period when the price oscillates in the range of 0.15-0.30USD. How does that explain? It looks like the new wave of investors in XRP are a bit mature and they do not want to sell their coins inexpensively.

As you can see, a symmetrical triangle pattern has been formed on the graph. A symmetrical triangle pattern can end with a up or down movement.

The resistance lines are: The support lines are:

R1 – 1,23usd S1 – 0,62usd

R2 – 1,5 usd S2 – 0,49usd

poloniex xrp usdt Dec

What can we expect in the next few days?

Keeping in mind that we have a symmetrical triangle pattern on the chart, we can not predict a probable move for the coming days.

In principle, by the end of 2017 I do not expect major upward movements. Why do they say that? Well, big investors, those who move the market, do not trade during this period. We may see some movements between 27-30 December when some of them will return to the job. But, I repeat, I do not expect big moves.

Just to give you an idea: if we have positive news, or the whales reappear, on XRP/USD we will test the previous maximum price from $1.23. If 1.23 USD is broken 1.5 USD is the next target price. The MACD indicator (chart 4 hours) is above line 0 and is about to give us a buy signal.

Happy New Year For All 2018

Related Topics:ripple price analysis xrp latest price

Arthur Webb

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

6 Comments

Boris

December 26, 2017 at 8:52 pm

XRP is in uptrend now. Any news like trading on Coinbase exchange will surge XRP!

Reply
Daniel

December 26, 2017 at 10:24 pm

Talk to us about XRP market cap. Doesn’t the fact that there are 100B coins out there limit the upside potential with this coin? I mean at $50 per coin you have a market cap of like 7X Apple or 5 Trillion. That’s never going to happen right? Also, talk to us about the fees. I know the fees are basically coin that is destroyed which in turn will increase the value of everyone’s coins. But I could not find any data with coin destruction tables, or projections. At what point do the fees (coin destructions) actually start making a significant impact on the market cap? I have a hard time believing this coin will go any higher than say $5-$10 a coin unless a lot of those coins are destroyed.

Reply
- ahmadderar
  
  December 26, 2017 at 10:55 pm
  
  Hi Daniel
  Read this article please: https://www.ripplecoinnews.com/xrp-market-cap-real-problem
  
  Reply
  - Mr.lee
    
    December 27, 2017 at 8:35 pm
    
    I’ve read so much. What good news do you think we will have in the future? And what are the risks to Ripple Industries? I’m reading too well.
    
    Reply
kahn

December 28, 2017 at 8:57 am

please let me know how can i purchase ripple??? and what is the associated fee ??? Moreover i like to know id there are any hidden terms???

Reply
Sam

January 2, 2018 at 5:24 am

Ripple will achieve $ 9 target once coin base listed the currency . There is a chance to happen it 99% before January 2018

Reply

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Technical Analysis XRP/USD 26/12/2017