- Ripple Price trading above and very close to the 50 day moving average.
- XRP bulls might be putting all their strength to survive the 50 day moving average, bulls already having an edge with the price of XRP above the 100 and 200 day MA.
- XRP/BTC is currently trading at 0.00002242 BTC with an intraday change of -0.53% while the XRP/ETH is currently trading at 0.0003119 ETH accounting an intraday loss of 0.51%.
Ripple Price is currently trading above all the major 50,100 and 200 day moving averages which is a sign of bulls in control for the time being. The 50 day moving average acted as support for quite a long time in the recent days. Currently, the XRP is trading very close to the 50 day moving average where there is seemingly a tug of war between the bulls and the bears. With a bit more volume, we might see Ripple coin surge in the near future.
The Relative Strength Index (RSI) is below the normal zone where it is constantly trying to break the normal line. Looking at the RSI line closely, it is also showcasing an ongoing consolidation, where there’s a constant battle between the buyers and sellers. As mentioned above, with more volume we may see the RSI line break the normal line thereby taking the price of XRP further up.
The Fibonacci indicator is suggesting an immediate support at $1.0242 price level, but before it stands the 50 day MA which will also act as a determining support. The $0.9262 price level is another support below the level mentioned above. The $1.1638 price level is the immediate resistance that the bulls are trying to break and if they manage to break we may see XRP touching the next $1.3416 resistance.
NOTE: The Moving Average 50, 100 and 200 are in colour Yellow, White and Red.
The important support and resistance levels to keep an eye on are:
SUPPORT: $1.0242, $0.9262
RESISTANCE: $1.1638, $1.3416
TAKEAWAY: We might see the XRP price surge in the near future if it maintains the criterias mentioned above. Currently, there is an absolute tug of war between the buyers and sellers just above the 50 day moving average.