Crypto NewsRipple (XRP)

XRP about to close a second weekly green candle, what’s next? (Ripple price analysis)

                                                            Ripple  steht kurz davor, seine zweite grüne Wochenkerze zu schließen.  Auf dem Weg zu höheren Ebenen gibt es jedoch ein horizontales Hindernis, auf das weiter unten eingegangen wird.

Technical Analysis

Through grizzly

The daily chart:

XRP managed to reclaim the 200-day moving average line (in white) on the daily chart after struggling since mid-November. Technically, this pattern indicates positive psychological momentum in the market.
Although bullish sentiment is evident on the chart, the horizontal Resistance in the $0.42 to $0.43 range (in red) should be considered a strong obstacle. After collapsing in May, XRP remained below this level for a few months.

Suppose the asset will overcome this obstacle. In this case, an uptrend with a target of $0.55 is likely. This level prevented further price growth in September and October.

A brief pullback to $0.37, on the other hand, is also considered healthy. As long as XRP is trading above this level, it can always retest the highlighted overhead resistance.

Moving Averages:
MA20: $0.38
MA50: $0.44
MA100: $0.41
MA200: $0.39
XRP about to close a second weekly green candle, what’s next?  (Ripple price analysis), Crypto Trading News TradingView

The XRP/BTC-Diagram:

The chart shows an early indication of an end to the negative trend. In the last correction did not close any candles below 2000 SATs, underscoring the need to keep an eye on this level as a critical support. The pair has recovered from the 61.8% Fib level (in yellow) and is currently reaching the 23.6% level at 2500 SATs (in blue). If price can clear this resistance, it will be ready to retest the 2800 SATs.

In this chart, the primary support is at 2200 SATs (in green). The bullish outlook remains strong in the short-term as long as the pair stays above it.

Key support levels: 2200 SATS, 2000 SATS
Important resistance levels: 2500 SATs, 2800 SATs
XRP about to close a second weekly green candle, what’s next?  (Ripple price analysis), Crypto Trading News TradingView

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Source: Crypto News Deutsch

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