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Ripple Price Watch | Ripple (XRP) is in a Bullish Zone

February 13, 2018 – Ripple Price Watch.

Key Highlights:

  • Ripple recently broke above the $1.05 price level, reaching as high as $1.09
  • A bullish trend line is forming to test resistance at around $1.00
  • Short-term averages are giving a bullish signal

Ripple Breaks Above $1.05, Further Upside Shown

Ripple (XRP) recently broke above the $1.05 level to as high as $1.09, but has since pulled back to around the $0.995 mark. It is trading at $0.9919 as of 3 PM EST, up by 31% over the past seven days, pulling away from the pivotal $0.8000 level.

The current 23.6% Fibonacci retracement level stands at $0.9745, meaning that XRP is unlikely to fall below this. A new bullish trend line is forming from this point, testing a resistance of around $1.00. If this could hold, the next move is toward a short-term upside of $1.10.

Ripple Price Watch

Source: Tradingview

In terms of MACD, the indication is that XRP is in a bullish zone, evident from a crossover by the MACD and signal lines. This is also confirmed by the short-term moving average lines. Volume has quieted over the past hours, so nothing dramatic is expected soon, and it is likely that XRP will be in the range of $0.9750 to $0.9950 for now with potential to reach around $1.00.

Looking at the Technical Indicators:

  • MACD — XRP is in a bullish zone
  • Short-term Moving Averages — Bullish signal
  • Major Resistance Level — $1.00
  • Major Support Level — $0.9745

Featured Image: twitter

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In addition to writing financial content and analysis, Jackson has worked as a business journalist at Stockwatch and research analyst at various organizations. He obtained his MA Economics from Concordia University in Montreal and BA Economics from the University of British Columbia, with special emphasis on environmental and industrial economics.
By | 2018-02-14T06:20:12+00:00 February 13th, 2018|Categories: Cryptography|Tags: , , , , , , , , |Comments Off on Ripple Price Watch | Ripple (XRP) is in a Bullish Zone

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