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Ripple’s 30% rally bows to selling pressure under $0.7 Ripple gained ground to $0.67 after the massive weekly selloff to $0.52. Overhead pressure under $0.7 results in a retreat to $0.6. The MACD reveals that XRP is still in the bulls’ hands. Ripple suffered greatly under the battering jabs from the bears at the beginning of the week. The feared downfall to $0.5 occurred as XRP tumbled to $0.52. Meanwhile, a recovery followed swiftly, with Ripple gaining the lost ground above $0.6. The bulls stretched the up leg toward $0.7, but the momentum lost steam at $0.67. At the time of writing, trades at $0.62 following a minor correction. Holding support at $0.6 is crucial for the resumption of the uptrend. However, Ripple may retreat further before bulls throw another jab at $0.7. Ripple’s weakening on-chain metrics could be hindering recovery On-chain metrics play a key role in the performance of most crypto assets. Understanding the signals from the metrics helps investors make informed decisions. According to data from Santiment, the number of new addresses joining the XRP has dwindled over the last 30 days. Moreover, the XRP price has been falling in tandem with the addresses. For instance, from a 30-day high of nearly 4,800 addresses created on May 24, only 2,055 addresses were created on the network on June 23. On May 24, Ripple exchanged hands at $0.86, but the price had fallen to $0.64 on June 23. Declining network growth is usually a bearish signal, ascertaining that the project is losing traction. Hence, if the metric fails to turn around, XRP price will likely delay recovery or continue exploring the rabbit hole. On the flip side, the Moving Average Convergence Divergence (MACD) hints at the trend remaining in the bulls’ hands despite the correction from $0.68. Realize that the bullish outlook emanates from the MACD line (blue) sustain the divergence above the signal line. Besides, holding above $0.6 support may allow bulls to focus on recovery toward $1. Ripple price intraday price levels Spot rate: $0.62 Trend: Bearish Volatility: Low Support: $0.62 and $0.52 Resistance: $0.7 and $0.85
BITFINEX:XRPUSD
by CoinGape
1
Ripple price flashes remarkable buy signals Ripple price begins recovery after diving to $0.57. The TD Sequential indicator presents a massive buy signal as buyers take their positions. XRP aims at closing the day above $0.78 to set the precedence for the trajectory to $1. Ripple slipped below May’s crucial support at $0.65 to trade a two-month low of $0.57. The selloff affected most crypto assets, starting with Bitcoin’s drop to $30,000. When writing, the international money transfer token teeters at $0.62 amid a gradually building bullish momentum. Perhaps a daily close above $0.7 will call more buyers into the market upon Ripple regaining market stability. How formidable are Ripple’s buy signals? The TD Sequential indicator has recently flashed a buy signal on the 12-hour chart. This is a chart overlay tool that measures the volatility of an asset while tracking its trend. A buy signal forms in a red nine candlestick and implies that buyers get stronger as the bearish force fades. On the other hand, a sell signal presents in a green nine candlestick, implying that selling pressure is about to balloon while bulls lose their grip. With a buy signal intact within the overall technical picture, massive gains are anticipated. The growing uptrend is reinforced by the Relative Strength Index (RSI), gaining momentum after leaving the oversold region. Action toward the midline will cement the growing bullish grip. Subsequently, traders should watch for movements in the MACD. If the MACD line crosses above the signal line, the buy signal will be validated. Holding above the short-term support at $0.6 is crucial to sustaining the uptrend, while closing the day above $0.7 may bolster Ripple significantly upward. Ripple intraday levels Spot rate: $0.63 Trend: Bullish Volatility: Growing Resistance: $0.7 Support: $0.6 and $0.57
BITFINEX:XRPUSDLong
by CoinGape
3
Why Ripple Price Holding Above $0.8 Fails To Excite Investors?Ripple dealt with massive bearish calls last week amid the drop from levels slightly above $1. Many analysts believed that the cross-border money transfer token headed for a significant dive to the support in May at $0.65 and perhaps extend the down leg to $0.5. However, XRP eagerly embraced support at $0.8, allowing bulls to push the price to higher levels. Nonetheless, since the week started, the international money transfer token has not made any appreciable gains above $0.9. When will Ripple price come out of this crucial range? In the last few days, XRP sustained in a narrow range between $0.8 and $0.9. The immediate downside sits on top of the 50 Simple Moving Average (SMA) support on the four-hour chart. As long as this support is intact, bulls will focus on gains above $0.9 and toward $1. On the other hand, closing the day under this same level may see XRP testing the lower range limit at $0.8. The Moving Average Convergence Divergence (MACD) indicator currently levels at the zero line. This indicator identifies positions to buy the dip or sell the top, especially in a trending market, by following the asset’s trend direction and momentum. Note that the leveling motion has no definitive direction; thus, Ripple price consolidation will likely continue to the end of the week. However, the MACD line (blue) may help traders figure out the next breakout direction. A MACD line crossing above the signal will be a bullish signal, calling buyers to increase their exposure in anticipation of gains toward $1. On the flip side, the MACD line crossing beneath the signal line would imply that losses would take precedence. Apart from $0.8, other key anchor zones are $0.7, $0.65, and $0.5. Ripple price intraday levels Spot rate: $0.86 Trend: Sideways Volatility: Low Resistance: $0.9 Support: $0.8, $0.7 and $0.65
BITFINEX:XRPUSD
by CoinGape
Whats does the rest if 2021 hold for XRP? Will we hold the channel for 2021? If so then now is a great buying opportunity. I have been buying more and adding to my stack at these levels. BLOOD on the streets and all that jazz... Previous 4 years of resistance is now acting as support. When will the SEC stop fooling around? This month or 60 days from now? Will the judge throw this case out? Is it all smoke and mirrors? Little do they know they are just allowing us time travellers the access to BUY more. Most of us have been here from 2017 (.15/.30c BUYS) portfolio is probably still 300% up / you wont get those returns anywhere else - remember that. Time will tell - best of luck holding & remember the market is a device for transferring wealth from the impatient to the patient. STAY CALM AND BUY XRP
POLONIEX:XRPUSDLong
by AdonisB