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XRP price technical analysis. Retracement below $0.30 mark Latest Ripple (XRP) News & Price Analysis

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XRP price technical analysis. Retracement below $0.30 mark Latest Ripple (XRP) News & Price Analysis

coinnewsdaily by coinnewsdaily
October 15, 2019
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XRP price analysis. Long term outlook Latest Ripple (XRP) News & Price Analysis
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  • XRP price gained over 10% over the weekend and Monday
  • Psychological $0.30 resistance is reached
  • Price retraces back to $0.29

1 Hour XRP/USD price chart

XRP price demonstrated a strong bullish move and went up from its lowest $0.265 price mark on the 11th of October to reach and test a very important psychological $0.30 resistance level. Since then the price naturally retraced back by around 1 cent and is now trading at around $0.29.

It is worth to note that price increase was a gradual movement without any really high spikes in volume and momentum. Furthermore, the fact that the candlesticks printed on one hour chart at the time the price reached $0.30 did not form any long high tails, suggests the resistance may be tested again soon. However, before the next test of the resistance, the price may well dip below $0.28650 and even $0.28250 support levels in search of liquidity and to trap some long stop-loss orders

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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