Sunday, September 26, 2021
HomeNewsXRP On The Way To $ 1.22 By Investing.com

XRP On The Way To $ 1.22 By Investing.com




3/3

Ripple: XRP / USD daily chart

2/3

Investing.com – The XRP that it issued was up an additional 7% today to $ 1.0412. A preliminary high at 1.0886 was formed on Wednesday with news of another.

The overbought conditions at the time then led to the inevitable correction yesterday, Thursday. The 23.60% Fibonacci retracement of the 0.5177 to 1.0886 move offered good support at 0.9538 which was not broken on a daily closing basis.

Ripple: Daily chart

Should it now manage to break the high of August 11th, the bulls will target the 123.60% Fibonacci extension at 1.2233.

On the other hand, if the price breaks the 23.60% Fibonacci retracement on a closing price basis, we have to prepare for a test of 0.8705.

Ripple: XRP / USD hourly chart

The hourly chart clearly shows how a double bottom has formed after a downward correction from the high at 1.0880 in the area around 0.9253.

The falling trend line from the high offered resistance at first, but was then overcome. The 38.20% Fibonacci retracement of the downward movement from 1.0880 to 0.9253 was cracked with a second attempt.




This was followed by a dynamic movement up to the 61.80% Fibonacci retracement of 1.0258 and a test of the 78.60% Fibonacci retracement of 1.0531. The latter is seen as a transition point for a continuation of the upward move to the high at 1.0880.

From Marco Oehrl

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy / sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending News

Recent Comments