Ripple XRP Chart (weekly)
Investing.com – is heading for its biggest plus since the beginning of the year, up 43 percent on a weekly basis.
At the beginning of August, the bottom was formed. Since then, Ripple’s native cryptocurrency XRP has expanded its price rally to $ 1.18. The underlying impulse is therefore absolutely intact and was last confirmed with a jump above the average lines of the last 100 and 200 days at 0.85 / 0.81 dollars.
The recent spike on the upside has even cracked June highs. Ripple XRP experiences an additional confirmation for the upward trend direction through the higher time windows (weekly). An entry signal beckons in the MACD, while the RSI points sharply upwards above its 50-point mark.
The Bollinger Bands, which open on a daily basis, add to the favorable framework conditions. According to John Bollinger, the asset generates a buy signal as soon as the price rises above the upper Bollinger Band. This is currently the case with XRP.
The horizontal resistance at $ 1.2684 now marks the next target. The next hurdle is only at $ 1.4878. XRP would blow the lid off on a spurt above the May highs in the area around 1.65876.
In order not to jeopardize the promising starting position in terms of chart technology, the trend line at $ 0.97 must no longer be undershot in the future, as otherwise there would be a risk of a relapse to the trend-relevant smoothing lines.
A notice: This article does not constitute investment advice or a solicitation to buy or sell any asset. Nor does it purport to predict the development of the XRP price. It is only a subsequent comment on the XRP development, which is intended to inform Ripple investors about the latest crypto news and the technical starting position.
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.