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HomeNewsIs it time for the XRP cops again? From Investing.com

Is it time for the XRP cops again? From Investing.com




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Ripple XRP Chart (daily)

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Investing.com – The strong run since early August was followed by the one to $ 1.34 on Sunday, marking a horizontal resistance line. Since about half of the downward trend in April / June had also been caught up, the hurdle there turned out to be too strong. The fact that there is also an internal trend line in this haze makes the resistance all the more massive. Nevertheless, good supports have already formed on the underside, which can prevent a more significant correction in the Ripple XRP.

The 10-day line already acted as a springboard for a backlash. That average line is currently at $ 1.07. When this dynamic support line was touched, it recovered by a good 10 cents to around $ 1.17 in the last few hours of trading.

In order for the cryptocurrency to continue its recovery from the recent correction lows, it now needs a spurt above the horizontal resistance at $ 1.2684. The next hurdle would then even run at 1.4878 dollars. XRP would blow the lid off if it rallied above the May highs in the 1.65876 area.

On the other hand, the technical situation on the chart would only deteriorate if it fell below the new support cluster from the center line of the Bollinger Bands and the broken downtrend line around $ 0.95.




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 merely a subsequent comment on the XRP development, the Ripple investors about the latest crypto news and the technical starting position of the should inform.

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.
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