XRPUSD - 1D Chart Analysis
Updated
Based on higher trading volumes, the price of Ripple has registered the 3rd consecutive day of growth, leading the “recovery process” of the major cryptocurrencies with an increase of 14.87%.
Today we can see that the price has left behind the period in which has moved sideways and it also broke the Resistance Level of 0.5250$.
At this stage, The RSI and the Bollinger Bands are indicating that the price is “overbought” and we might see a correction coming soon. But on the other hand, the Stochastic and the MACD didn’t register any crossover yet which means that there is still more room for the price to improve.
Therefore, we have 2 possible scenarios for now :
* if the price will stabilise above 0.5250$ the next target seem to be 0.5823$
* If it will fail to stay above 0.5250$, the next possible target is 0.4620$
Today we can see that the price has left behind the period in which has moved sideways and it also broke the Resistance Level of 0.5250$.
At this stage, The RSI and the Bollinger Bands are indicating that the price is “overbought” and we might see a correction coming soon. But on the other hand, the Stochastic and the MACD didn’t register any crossover yet which means that there is still more room for the price to improve.
Therefore, we have 2 possible scenarios for now :
* if the price will stabilise above 0.5250$ the next target seem to be 0.5823$
* If it will fail to stay above 0.5250$, the next possible target is 0.4620$
Note
Pivot level dropped, next target price $0.4Volatility is officially back in town.
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