Ripple Latest Price Analysis- Feb 8, 2019- XRP Showing Signs Of The Bull, Will The Momentum Sustain?

CoinSwitch | 08 February, 2019 | 2 min

#1 Key Highlights

  • Ripple(XRP/USD) is hovering around mini demand area around $0.29 price level.
     
  • XRP/USD needs to hold $0.284-$ 29 price level.
     
  • Breaking 0.31$ price level is mandatory for bullish momentum.

#2 Chart Analysis

If we see the XRP technical analysis today, over the hourly (4H) time frame chart, one can observe that it hasn't broken the downtrend line since 1st February 2019 and have dropped 7%+.

Ripple technical analysis today shows that it needs to break the downtrend line (black) to test $0.3050-$0.3060 price level.

If we do further XRP analysis then one can observe indicators like Stock-RSI would soon be moving into Overbought zone though MACD crossover curving into the bullish zone.

Breaking the $0.303-$0.3060 price level with strong buy volume would be early signs of upside potential.

Further ripple price analysis illustrated that if the resistance level(red bar) is not broken then we might test the support level(green bar) around $0.0282-$0.0284.

Supporting thesis for bearish sentiments of ripple analysis 2019 will be trading under 200D- MA(Moving Average) and Ichimoku cloud.

#3 Conclusion

Overall, Ripple analysis today depicts that asset has been quite stable but it needs to make a move to confirm the trend in the coming days/weeks.

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