Looking at the Technical Indicators

Major Support Level: $237.21

Pivot Level: $239.39

Major Resistance Level: $241.36

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 0.86% on Saturday. Partially reversing a 1.69% fall from Friday, Ripple’s XRP ended the day at $0.20124.

A bullish start to the day saw Ripple’s XRP break through R1 @ $0.2041 to strike an intraday high $0.20504.

Bearish through the afternoon, Ripple’s XRP fell to a late intraday low $0.19811.

While falling into the red, Ripple’s XRP avoided S1 @ $0.1936. Finding late support, Ripple’s XRP moved back through to $0.20 levels and into the green.

For the day ahead

Support, Resistance, MACD, and EMA – Hourly Candlesticks

Looking at the MACD, we’ve seen a narrowing of the bullish histograms early on, supportive of a pullback in the day ahead.

The spreads between the 50-day EMA and 100 and 200 EMAs have also narrowed marginally also supporting a reversal.

Avoiding a fall through the day’s pivot level at $0.2015 will be key to support the upward momentum.

Barring an extended crypto rally, R1 @ 0.2048 and Saturday’s high $0.20504 would likely cap any upside.

A fall through the day’s pivot level at $0.2015 would bring the S1 @ $0.1979 into play before any recovery.

Barring an extended sell-off, Ripple’s XRP should avoid sub-$0.19 levels. S2 @ 0.1945 should limit any downside.

At the time of writing, Ripple’s XRP was up by 0.11% to $0.20147.  A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.20122 to a high $0.20340. Ripple’s XRP left the major support and resistance levels untested early on.

(Excerpt) Read more Here | 2020-07-11 22:45:12
Image credit: source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.