Ripple (XRP / USD) – Price Analysis KW29 – Support is $ 0.43

The ripple course has successfully tested $ 0.43 support over the past three days. Now it’s time to show strength. Where are the upward goals?

In addition to Bitcoin, various other crypto currencies are also covered by the current uptrend. Since Ripple has not received any analytical attention for a long time, let’s take a look at the “Bankencoin” or the XRP-course.

Of course, the correction in the crypto market also left its mark on Ripple. After marking an all-time high of $ 3.30 between December 2017 and January 2018, the coin has only one direction in the long-term trend and is down.

The indicator situation is currently rather uneven. Various moving averages speak in the short and medium term for a “long setup”. In the long term, however, the Ichimoku Kinko Hyo indicator has formed a cloud that represents a strong resistance to $ 0.57.

bullisher-Tageschart-Ripple-Dollar-KW29-e1531909265499.png

The primary uptrend within this scenario is at ripple effect. Soil formation of $ 0.43 would have been successful. The course can then rise sustainably. The first hurdle here is the cloud of the Ichimoku Kinko Hyo indicator. This is broken above $ 0.57. A long-term setup only emerges with the breakthrough of the tertiary downtrend. This currently runs at 0.70 US dollars – falling trend. Over $ 0.75 then the way is clear for the following upward goals:

$ 0.93
$ 1.15
$ 1.37

bärischer-Tageschart-Ripple-Dollar-KW29-e1531909545955.png

The $ 0.43 return to the mark was only a brief breather for another low in the bearish scenario. The ripple course continues to haul itself along the cloud and can not outlast it in the long run. The primary uptrend is finally undercut, currently at $ 0.45, and rising. With losses below $ 0.43, the downside target is capitalized at $ 0.30. If this is not enough as a correction level, even the $ 0.31 is due. These include price losses up to the $ 0.24 mark.

Conclusion:

At least so far, the increase in Ripple looks stable. Here, follow-up purchases must be made so that the greater soil formation completed and the rise can be continued.

Disclaimer: The price estimates shown on this page do not constitute buy or sell recommendations. They are merely an assessment of the analyst.

Images based on data created by bitfinex.com at 06:57 on 18 July. For a deeper understanding of the terms of a Bitcoin price analysis, please refer to this link.

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