Ripple Latest Technical Analysis- Feb 7, 2019- XRP Touching Long Term Trend Line, Will It Hold?

Anisa Batabyal
| 07 February, 2019 | 2 min

#1 Key Highlights

  • Ripple(XRP/USD) is still under the control of Bears.
     
  • XRP/USD needs to make a move above $0.31 for potential bullish momentum.
     
  • MACD and Stock-RSI turning towards bulls territory.
     

#2 Chart Analysis

Ripple analysis today will be insightful enough to know significant price levels of the crypto asset.

If we see the XRP technical analysis today over the Daily timeframe chart then one can conclude that it couldn't hold the important support level around $0.32 as there was a major resistance to break. It tried to hold this price level for 10+ days before breaking down.

Ripple technical analysis today shows that it needs to hold the $0.29+ price level and close above the long term uptrend line (green line) to show some signs of bullish momentum. Breaking the first resistance level (red bar) would be bullish for the crypto asset.

Further XRP analysis shows that indicators like MACD and Stock-RSI are showing signs for bullish momentum signaling potential upside.

There is also major bearish development as well. There is not enough buying volume (interest) at these levels which is quite a bearish sign. If it doesn't hold up $0.30 level and closes below the long term uptrend line (green line) in the coming days then it might test <$0.24 price level.

Further ripple price analysis shows that it has to cross strong hurdles before turning into strongly bullish.

The bearish development of ripple analysis 2019 includes trading under the Ichimoku cloud.

#3 Conclusion

Overall, Ripple has to respect the long term downtrend-line otherwise it would be strongly bearish for the crypto asset in the coming days/weeks.

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