Description
Ripple prices as high up as $0.258 on 17th September. Ripple is currently unable to find support above $0.25 mark. XRP price trend shows a retest in order amidst market volatility. The Ripple price line moved above the $0.25 mark on the 17th of September. A crypto analyst, Saeed, working on Trading View believes that … Read more
- Ripple prices as high up as $0.258 on 17th September.
- Ripple is currently unable to find support above $0.25 mark.
- XRP price trend shows a retest in order amidst market volatility.
The Ripple price line moved above the $0.25 mark on the 17th of September. A crypto analyst, Saeed, working on Trading View believes that the XRP price will rise towards the $0.30 mark after bouncing off the support structure. Over all market sentiment is still neutral, while the volatility continues to differ from cryptocurrency to cryptocurrency.
1-Day Ripple price analysis
Ripple traded at $0.25 US Dollars at the time of writing. The cryptocurrency turned bullish as the day began and the price moved past the $0.258 mark, breaking through the 60-Day Exponential Moving Average (60EMA).
Possible bull-flag for Ripple?
The Trading View analyst Vince Prince believed that the XRP price will fall below the $0.23 mark if Ripple does not manage to move above the coherent resistance cluster formed by the lower line resistance and the 60EMA.
The analyst highlighted a minor ascending channel (blue) and a major descending channel (black). XRP has been trading with the 60EMA as its resistance. Per the analyst, the price should have moved along the falling midpoint of the descending channel. However, the cryptocurrency broke past the 60EMA on the 17th of September. Now, XRP price may observe a possible bullish flag.
Ripple price technical indicators
Increased volatility can be observed in the XRPUSD trade closer to the start of the 17th of September. The Bollinger Bands contracted as the day progressed. Near 10:30 GMT, the bands expanded again as an increased number of price variations were recorded. The Moving Average Convergence Divergence (MACD) technical indicator showed a sell signal near 08:00 GMT.
What to expect from XRP price?
The Trading View analyst Mudrex believes that the XRP price is expected to see an uptrend. The analyst employed the Bollinger Bands on the 1-day chart as the price appeared to move between the mid line and the lower Bollinger band with higher lows. This moving pattern suggests an uptrend.
The Relative Strength Index (RSI) depicts neutrality for the cryptocurrency as it was recorded near 47.00. The Moving Average Convergence Divergence (MACD) technical indicator moved above the signal line while the histogram has moved from the negative region towards the positive region. This move by the technical indicator suggests that Ripple possesses a bullish bias.
The cryptocurrency’s price has moved below the midline of the Bollinger Bands. The higher lows suggest a continued uptrend. The trade volume for Ripple also depicts slightly bigger candles, though being below the 20-Candle moving average. This depicts a bearish momentum for XRP.
Will Ripple test the $0.32 resistance?
The Trading View analyst Saeed believes that the XRP price will continue to rise on its charts. The cryptocurrency recently broke below an ascending trend line, which has now switched roles from a support line to a resistance line.
An important support structure lies near the $0.23 mark, just above the buy zone for Ripple. The crypto analyst believes that the price line will bounce off the support structure after observing a pullback. This bounce will lead the price towards the rising support-turned-resistance. XRP price is expected to test the resistance near the $0.32 level.
Disclaimer: The information provided is not a trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.