Ripple Latest Price Analysis- Feb 12, 2019- XRP Price Surged, Can Bulls Drive The Price Higher?

Anisa Batabyal
| 12 February, 2019 | 2 min

#1 Key Highlights

  • Ripple (XRP/USD) price surged 10%+ recently.
  • It broke the short-term downtrend line (black).
  • Resistance level $0.32+ tested and now in correcting phase.
  • Possible S/R flip in play.

#2 Chart Analysis

If we see the XRP technical analysis today for hourly (4H) time frame chart, it has broken the short-term downtrend line developed since the start of February month.

Ripple technical analysis today shows that it has also broken the 200H-MA (Moving Average) and is now resting on it.

If we further do XRP analysis then one can observe that it touched the Ichimoku cloud resistance but couldn't close above which is slightly bearish.$0.3158 price level will act as immediate resistance, if broken, then it will be bullish for the asset.

Ripple analysis today on 4-Hour chart shows that Stock-RSI has moved to overbought zone, as well as MACD, is slowly curving up to the bullish zone.

Further ripple price analysis illustrated that if the present potential S/R flip doesn't occur then the next level of support will be around $0.3000-$0.2976 which needs to hold up for bullish sentiments.

#3 Conclusion

Overall, Ripple (XRP/USD) needs to hold certain support level to sustain bullish momentum otherwise it would be a bearish midterm for the asset.

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