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XRP price continues an uptrend Latest Ripple (XRP) News & Price Analysis

coinnewsdaily by coinnewsdaily
October 8, 2019
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  • XRP key support is $0.27500
  • XRP is still within ascending trading channel
  • Future resistance is at $0.29500 line

1 Hour XRP/USD price chart

XRP/USD pair recorded gains of more than 6% in the last days and continues to trade upward within the ascending channel. The price set resistance at$0.28650 and is now consolidating between that level and $0.27500 support line. It is possible that a stop loss hunt will occur in the short term, with price tapping into liquidity just below $0.27500. Due to the fact that trading volumes are average or just below the average at the moment on an hourly chart, the start of a downtrend is highly unlikely.

The price, however, can possibly drop further down and tests the next support at $26350.

If after the short period of consolidation price moves up above $0.28650, it is likely to see next resistance at $0.29500

As long as there is no volume spike that can act as a trend reversal signal and XRP price remains within its current trading channel we should see uptrend continuation.

Chart source: Tradingview

Disclaimer: Markets, instruments, and advice on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. Ripplecoinnews does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. Investing in Cryptocurrencies involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses, and costs associated with investing, including total loss of principal, are your responsibility.

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