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Technical Analysis

Technical Analysis XRP/USD 12/10/2017

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Before moving on to the technical analysis, it should be noted that we have a very good news that arrived before SWELL. The news came from the Ripple’s official site and we selected the most important sentence: “In a precedent-setting moment, Cuallix became the first global institution to use xRapid – a Ripple’s solution that uses XRP as a liquidity tool – to reduce the cost of sending cross-border payments from the US to Mexico. ”

What does this news mean? It’s what they expected, those who have invested in XRP for a long time. It’s the big news as it’s the first confirmation that XRP is used in cross-border payments. At the moment, it seems that the news has surprised many people. I say this because the chart does not show an upward move up. I do not doubt that this news will be reflected soon in the XRP price move. Whatever news that will arrive at SWELL, the fundamental situation of XRP has finally moved to a positive area. XRP is no longer floating in uncertainty. Whether the price will decline after SWELL, at this point we have an important news for the fundamental situation of XRP.

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  The resistance lines are:                                                      The support lines are:                            

           R1 –  0,30 USD                                                                      S1 – 0,23 USD

           R2 –  0,42 USD                                                                     S2 – 0,19 USD                                                                                              

 

poloniex xrp usd

Let’s move on to the technical analysis. Past days, after the price broke up the descending trend line, it went up to 0.28 USD. This upward move was predicted in the latest technical analysis.

After reaching 0.28 USD, on the background of large volumes, there was a fall to 0.23 USD. In terms of technical analysis, the 0.23 USD level has been confirmed as a support and has also been confirmed to support the descending trend line (blue). It is very important that prices have stopped at those values, and then the up movement has started again.

What should we expect in the next three days? If the price is kept above the ascending trend line (drawn in white), it will be good as we will have all chances to climb to R1 0.30 USD.

Considering that we have a positive news about the first confirmation that XRP will be used in cross-border payments and that SWELL will start next week, the likely move for the coming days is a consolidation and continuation of the trend up to R1 0.30 USD.

For the next three days, the possible evolution of the XRP/USD price is drawn in yellow on the chart.

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 :(

2 Comments

2 Comments

  1. Manuel

    October 12, 2017 at 8:05 am

    Hi Ahmadderar,

    Thanks for your analysis. I really appreciate the work and effort you put into this website. Thanks for the good analysis and the news you provide us.

    Best regards from Germany,
    Manuel

  2. Gordy

    October 12, 2017 at 7:24 pm

    I want to commend the ripple crew for doing a great job, for their focus, resilience and determination. I know xrp has a great and promising future!

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