Following a moderate ascension of price action toward higher limits, Ripple has witnessed a significant downside correction. However, not all the recorded profit since the initial stage of the recent rally has been lost at this point. Nevertheless, should bears continue to stay in control prices may fall to lower support?
Ripple’s Forecast Statistics Data:
Ripple current price: $0.3401
Ripple’s market cap: $16.83 billion
Ripple circulating supply: 49.83 million
Ripple total supply: 99.99 billion
Ripple’s Coinmarketcap ranking: #7
In this analysis, we shall further study the XRP/USD market. We will also consider the XRP/BTC market, both this market and the XRP/BTC market will be given a close examination. Furthermore, we will look at how we can profitably trade this market
Important Price Marks:
Upper Limits: $3582, $0.3620, $0.3680
Lower Limits: $0.3401, $0.3200, $0.2900
XRP Returns to Lower Support, 10000X Returns on TAMA
The daily chart for XRP/USD shows that the seller is now in control of the market. And, at that Ripple price may further return to lower support. Looking at the Bollinger, we can see that the middle limit is acting as supporting them for the last candlestick on this chart. However, the activities on the RSI predict that this support may soon be broken downwards. The RSI curves have reached the 100% and have made a downside cross. At this point, we may expect the price to fall to $0.3200 soon. Short-term traders can go shot as the XRP price may fall even lower.
XRP Price Analysis: XRP/BTC Appears to Have Commenced an Upward Reversal
In the daily XRP/BTC market, it appears that price motion is performing a contrary move to what we have in the XRP/USD market. Here it can be seen that it looks like an upward reversal has started, with the appearance of the last green candlestick.
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Furthermore, the Stochastic RSI lines have crossed in the oversold sold region. So from this point, it ok to anticipate that value may continue to rise upwards from this point on. Nevertheless, the direction of the crossed RSI indicator lines still appears sideways. Therefore, Traders here might want to refrain from executing an instant buy order, but they should place a pending buy order near 0.00001664.
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